The amendments to the Law on E-invoices, published by the Ministry of Finance a few days ago, further complicates the already unclear existing law on e-invoices, says Darko Majstorović, director of the Control1 Company.
The new amendments, as he points out, contradict several articles of the VAT Law. This amendment to the Law shortens the time for online submission of VAT returns (VAT calculation was submitted electronically until now) to 10 days, which is in contradiction with the VAT Law. According to that regulation, the deadline for submitting the VAT return is 15 days from the end of the tax period, says Majstorović.
Furthermore, the amendments are contrary to Article 50 (paragraph 1) of the VAT Law, which stipulates that the VAT return must be submitted within 15 days after the end of the tax period.
These amendments cause additional legal uncertainty and ambiguities based on other situations that occur in practice, according to accountants and small business owners.
“For example, if a company receives a late invoice issued in one of the previous tax return periods from his supplier, it is unclear how such invoices will be registered in the company’s accounting books and how this late VAT will be recorded,” Majstorović points out.
E-invoices have complicated business instead of simplifying it
“Since the amendments to the Law on E-invoicing are in conflict with several articles of the VAT Law, it is unclear which law will be applied in certain practical situations. We suspect the Serbian Tax Administration will use these amendments to their benefit and to the detriment of companies,” Majstorović added.
“We invited the Ministry of Finance to review and adopt the numerous objections made by the Protector of Small Business Owners and Business People of Serbia Association and the Accounting Chamber of Serbia in order to simplify these tax laws which, as we have already predicted, will cause problems with bookkeeping in companies,” assesses Majstorović.
The Association says that they repeatedly pointed out that the e-invoice system has been insufficiently defined and elaborated, which complicated business instead of simplifying it.
The Ministry of Finance announced on its website that during the consultations, representatives of organizations, judicial bodies, international organizations, civil associations and other interested parties will be able to submit proposals, comments, suggestions and objections to the amendments to the Law on E-Invoicing by September 25, 2023.
(Biznis i Finansije, 21.09.2023)
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