Amendments to the VAT Rulebook | KPMG | RS

Amendments to the VAT Rulebook on Determining Transfer of All or Portion of Property not subject to VAT

Amendments to the VAT Rulebook

Amendments to the Rulebook on Determining Transfer of All or Portion of Property, With or Without Consideration, or as Initial Investment, Which is Not Deemed as Supply of Goods and Services in the Sense of the Value Added Tax Law (“Rulebook”) were published in the Official Gazette of the Republic of Serbia number 76 dated 4 August 2012.

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Amendments to the Rulebook extend the scope of non-taxable transfers of
property, so that supply of goods and services that is not subject to VAT (besides the transfer of a technical-technological unit) also includes the
transfer of a functional unit within which a business activity is conducted.

These amendments to the Rulebook introduce the possibility for VAT exempt transfer of a part of business which does not represent production, i.e. technical-technological unit, if the acquirer is a taxpayer or through such transfer becomes a taxpayer and continues to perform the same business
activity.

We would like to note that it can be expected that the Ministry of Finance
will issue an opinion in the coming period in which it will specify what it
considers to be a functional unit within which a business activity is conducted.

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