Electronic invoices should be used in Serbia in mid-2021, which will be another step towards the digitization of business operations that will facilitate everyday operations for companies.
The new accountancy law, which will introduce the concept of an electronic invoice, should be adopted at the National Assembly of Serbia by the year-end, and the draft law was up for public review recently.
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“If the law is adopted as planned, electronic invoices will become part of our business system in mid-2021,” the Head of the Group for Accountancy Affairs at the Chamber of Commerce of Serbia, Aleksandar Vasic, told Tanjug.
He said that each step toward the digitization of business operations was a great relief for the economy, provided it was implemented properly.
The use of electronic invoices should simplify the entire invoicing procedure, Vasic explained and added:” This will make paper invoices obsolete and lead to a considerable reduction of costs when it comes to the related administration and archiving.”
He went on to say that there would certainly be a transitional period for the implementation of electronic invoices and that companies, working with large business systems, have already implemented the system of electronic invoices.
Tax advisor Milan Trbojevic says that electronic invoices will be a pretty big change for the entire business segment, adding that paper should become completely obsolete in invoicing.
He also says that, after the law is adopted, companies will have a year and a half to adapt and change their business policies.
“Once the law is adopted, we’ll see if there will be subsequent bylaws defining how electronic invoices are exchanged, whether specialized software will be needed, etc.”, Trbojevic said.
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