Tax calendar, news and reminders for company owners, entrepreneurs and other taxpayers for January

Here are a few important reminders and pieces of news that company owners, company directors, finance/accounting departments and other taxpayers should be mindful of in December 2019 / January 2020:

  1. No administrative fees for Tax Administration’s E-certificates

As of 3rd January, 2020, the Tax Administration of the Republic of Serbia has enabled taxpayers to file claims and be issued with tax certificates electronically without the need for them coming to the Tax Administration offices. Through the e-Porezi website, taxpayers can electronically apply for electronic certificates for payment of various taxes and contributions including the certificates of paid health insurance contributions, certificates of paid value-added tax and certificates on taxes paid and withholding contributions, in accordance with legal requirements.

  1. Visit of the delegation of the National Tax Administration of the People’s Republic of China

The delegation of the National Tax Administration of the People’s Republic of China paid a working visit to the Tax Administration of the Republic of Serbia. The delegation from the People’s Republic of China was led by Mr. Lin Feng, Assistant Director General of the Goods and Services Division. Representatives of the Embassy of the People’s Republic of China in Belgrade, led by Mr. Tang Xiaodong, economic advisor, were also present. During the meeting, the two sides exchange experiences in providing tax services in their respective countries, and the Chinese delegation had a tour of the Serbian Tax Administration’s branch in Cukarica, Belgrade.

  1. Tax calendar for January 2020

 By 10th January

 Deadline for filing your tax return and paying taxes on non-life insurance premiums for the previous month

  • Deadline for submission of the tax return and payment of VAT for the previous month by the tax debtor referred to in Article 10 of the Law on VAT

By 15th January

  • Deadline for payment of monthly advance payments of taxes and contributions to self-employment income for the previous month
  • Deadline for payment of contributions for priests and religious officials, for nationals employed abroad and for foreign retirees for the previous month
  • Deadline for filing your tax return and paying VAT for the previous month
  • Filing your tax return and paying VAT for the fourth quarter of 2019
  • Filing a request for changing tax period for which the tax return is submitted and paying VAT from the calendar quarter to the calendar month
  • Deadline for payment of corporate tax advance payment for the previous month
  • Deadline for payment of calculated excise duty for the period from the 16th to the end of the previous month
  • Submission of the production norms by the manufacturers of excise products eligible for the reduction of calculated excise duty in 2020
  • Deadline for filing excise tax return for the previous month
  • Deadline for tax filing and payment of excise duty on electricity for final consumption for the previous month
  • Deadline for filing a tax return on calculated contributions for compulsory social security for founders and members of a company

By 31st January

  • Payment of mandatory social security contributions for unpaid earnings for the previous month
  • Filing a tax return for payers of flat tax rate who have changed their business or turnover in the past year
  • Payment of calculated excise duty for the period from 1st to 15th day of the month
  • Delivery of excise product inventory lists to a relevant Tax Administration branch for the period from 1st January to 31st December 2019.
  1. National Bank of Serbia keeps the benchmark interest rate at the same level

 The Executive Board of the National Bank of Serbia has decided to keep the benchmark interest rate at the level of 2.25%.

  1. Registration of attorneys and notaries with the taxpayers register

The entrepreneurs who, from January 1, 2019, have changed the way their books are kept from simple to double-entry bookkeeping, are required to submit a financial report to the Business Registers Agency. These entrepreneurs include a number of lawyers, notaries and others who do not otherwise register with the Agency, so now they have to submit their application to [email protected] .

  1. Off-work days and public holidays in Serbia in 2020  
  1. The Decree on determining the translation of International Financial Reporting Standards (IFRS)  
  1. Company Law 
  • Minor changes in legislation text.
  • Introduces the instrument of reserved own stakes in nominal capital, on which basis, a financial instrument could be issued. Also stipulates financial instrument on basis of reserved own stakes and its procedures.
  • Introduces the possibility of distributing profits to employees.
  1. Law on deadlines for settlement of financial liabilities in commercial transactions 
  • Introduces e-invoices issued on public companies, upon establishing technical capacities, as 01.07.2021. 
  1. Law on the Central Register of Mandatory Social Security  
  • Added stipulation that Croso would store information on paid PIT also, besides only contributions.
  • Deadline deferred by two years; employees job positions be updated according to new classification. This should be done by 31.12.2020.
  1. Customs Tariff Law  
  1. Law on Centralized Registry of Real Owners  
  • Defining APR and NBS as controlling bodies and capable of launching a penalty process for non-registration, registration of invalid data, etc.
  • Added additional deadline for registration of non-registered companies so far, until 31.01.2020.
  1. Law on Mandatory Social Security Contributions  
  • Stipulates changes to regulation about pension contribution, contribution refunds, companies which are engaged in innovative activities, tax exemptions of new employees, etc. 
  1. Law on Personal Income  
  • Stipulates changes to regulation about companies paying scholarships and related tax exemptions, tax exemptions for payment in participation of EU-sponsored programme related to education, training, sports, youth activities, science and research, income tax for non-residents, reimbursement of employee transportation costs, payment of non-taxable amount in the case of death of an employee’s family member, non-taxable expenses related to recreation, sports and healthcare, capital gains taxation, etc.
  1. Law on Tax Procedure and Tax Administration  
  1. Law on Property Taxes  
  1. RULE BOOK on the forms of tax returns  
  1. Law on Corporate Income Tax  
  • Stipulates tax exemptions on capital gains of investment funds, large-size investments, exemptions of payment of banking costs related to mortgages in Swiss Francs that have been written off, added stipulation for international double taxation avoidance, etc. 
  1. Rule book on depreciation of fixed assets recognized for tax purposes  
  1. Law on Recruitment Agencies  
  1. Decree on Custom Clearance Privileges  
  1. REGULATIONS on preventative measures for safe and healthy operation when using display equipment  
  1. REGULATIONS on preventive measures for safe work during exposure to vibration  
  1. REGULATIONS on preventive measures for safe work during exposure to excessive noise  
  1. Decree on the cost of issuing a health insurance card  
  1. The amount of the lowest monthly basis of contributions related to mandatory social security  
  1. The amount of the lowest monthly basis of contributions related to mandatory social security for the workers stipulated in the articles 25, 26 and 27 of the Compulsory Social Security Contributions Law 2020  
  1. The amount of the highest monthly basis of contributions related to mandatory social security  
  1. The amount of the highest monthly basis of contributions related to mandatory social security for 2020

 

 

 

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