On 6 December 2019, the Serbian Parliament passed the legislation that amends the corporate income tax law including requirements for country-by-country (CbC) reporting of controlled transactions within a corporate group. The Law is published in the Official Gazette of the Republic of Serbia No 86/2019.
According to law, a CbC report must be submitted by the Serbian tax resident that is the ultimate parent legal entity of an international group of related legal entities and that have total consolidated income of at least €750 million annually. In addition, at least one member of the multinational group must prepare consolidated financial statements in accordance with IFRS. The CbC report is due within 12 months of the end of the fiscal year for which the CbC report is prepared.
