High fines for companies that do not issue electronic invoices

Pursuant to the Law on Accounting (Official Gazette RS, No. 73/2019, Art. 9(3) and Art. 64(3)), businesses and the public sector are obliged to use electronic invoicing, which will come into force on December 31, 2021, and July 1, 2021, respectively.

The Electronic Invoicing Law regulates the electronic invoicing obligation and will significantly change the current practice.

As Snezana Mitrovic, from the Chamber of Commerce and Industry of Serbia, said, using e-invoices will be an additional expense for companies and there are also safety issues associated with it.

Companies will have to update their information systems for automatic e-invoicing, create a system or enter invoices manually, and will have to provide e-invoices for payments outside the system,

The draft law on electronic invoicing also provides for the introduction of information intermediaries, which, with the consent of the Ministry of Finance, can provide services of issuing, recording, processing, receiving, submitting and storing electronic invoices.

Mitrovic adds that electronic invoicing could cause problems with data security and confidentiality, checking the authenticity of data stored or sent, etc.

She especially underlines exuberant fines – up to 2 million dinars for companies and up to 500,000 dinars for small business owners – as well as the doubts that the new system may seriously jeopardize small and medium-sized enterprises.

(eKapija, 11.03.2021)



This post is also available in: Italiano

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