A new “rulebook” (as the guidelines are referred to under Serbian law) on value added tax (VAT) was published in the official gazette on 6 October 2017. The new rulebook concerns recordkeeping for VAT purposes and VAT calculations, and its provisions will be effective beginning 1 January 2018.
The new rulebook specifies the method for keeping VAT records and a requirement for submitting an overview of VAT calculations on a form (POPDV form).
Compared to the previous 2016 rulebook that was to be effective starting January 2018, the new rulebook generally simplifies the VAT recordkeeping and reduces the number of information items to be entered in the POPDV form.
However, the method of keeping VAT records and preparing the POPDV form continues to impose greater demands in terms of information to be provided, and this will require changes to be made in accounting software and/or in the program used for preparing VAT records.
For more information, contact a KPMG tax professional in Serbia:
Biljana Bujic | +381 112 050 511 | firstname.lastname@example.org
Igor Loncarevic | +381 112 050 570 | email@example.com
Dusan Popovic | +381 112 050 726 | firstname.lastname@example.org
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