Electronic invoices to become mandatory to combat shadow economy

Finance Minister Siniša Mali said the state was committed to combating the shadow economy and added that his ministry has prepared two laws – one on taxation and one on electronic invoices. The minister underlined that those two laws will contribute to further suppressing the shadow economy.

He added that the draft law on taxation and the introduction of new fiscal cash registers was published on the Ministry of Finance’s official website.

The Minister announced that the bill will be ready for a public debate in a few days and expects it to be approved by the end of the year and for its implementation to begin on January 1, 2022.

The state will allocate 3.5 to 4 billion dinars in the budget for the next year for the new software solutions and fiscal cash registers, and will cover most of the costs associated with the introduction of the new fiscal cash registers, in order to help businesses.

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He also recalled that the latest changes to the tax law took place in 2004 and added that technology and the business environment have changed a lot since then.

The second law (on e-invoices) will probably be adopted in the first quarter of next year, and implementation will begin on January 1, 2022.

Electronic invoices will be introduced at the direct request from businesses. Invoices will no longer be in paper and the entire invoicing process will be digitized, which will reduce potential irregularities and combat the shadow economy.

(Blic, 27.10.2020)

https://www.blic.rs/biznis/dva-nova-zakona-uticace-na-suzbijanje-sive-ekonomije-evo-kada-se-ukidaju-papirne-i/k1zvgrd

 

 

 

 

This post is also available in: Italiano

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