As of next year, the deadlines for submissions of financial reports and their template will change, the Serbian Business Registers Agency (APR) says.
“Separation of financial statements from other documentation and their submission within new divided deadlines, the use of new template of financial statements which will depend on the company’s size, submission of documentation only for auditors, new documents for certain groups of taxpayers and new adjusted financial statements that can be submitted by auditors, are just some of the novelties envisaged by the new Accounting Law, which will come into force on the date when companies are supposed to submit their 2021 financial reports,” the Agency reports.
The first deadline for the submission of periodic annual financial reports for 2021 is 31 March 2022. “In compliance with the legislation regulating a completely new financial reporting model, in which financial statements are determined by the company’s size and compiled on completely new forms for all groups of taxpayers, the Business Registers Agency is preparing a new Special Information System for the compilation and submission of financial reports which will become operational by late January 2022,” Director of the Business Registers Agency, Milan Lučić, has said.
He added that companies have been sending their financial reports electronically for seven years and estimated that the APR will receive around 300,000 reports next year.
Lučić explained that once financial reports are submitted, they will be processed and the APR will publish them on its official website within the deadlines prescribed by the new law, and no later than September 30, 2022, when all correct but also incorrect (to be corrected within the time allowed) financial reports and documentation will be published, .
“The publication of all submitted financial reports and documentation will ensure full transparency of financial reports,” he stressed. As financial reports are submitted exclusively electronically, legal representatives of taxpayers should verify the correctness of a qualified electronic certificate in a timely manner.
(N1, 25.12.2021)
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