VAT: New regulation postponed until 2018

The implementation of the new VAT rules, which caused an uproar among accountants and accounting associations, is postponed for January 2018. The Ministry of Finance says that there are several meetings taking place at the moment in order for the authorities to review all the constructive suggestions regarding the new rules with the goal of improving them.

– Apart from us considering reducing the number of items on the POPDV form, the amendments to the relevant law, which are supposed to be adopted by the year end, will stipulate that the implementation of the new VAT rules would be postponed until 1st January, 2018 – the Ministry of Finance informs.

– Having taken into consideration the complaints from the business community, and in agreement with the Chamber of Commerce of Serbia, the Ministry of Finance has decided to start implementing the new rules as of 1st January, 2018. In cooperation with the Ministry, the Chamber is going to continue working on fixing the flaws in the VAT procedures as pointed out to us by the financial experts and the business community with the view of coming up with the best possible solution for this issue. We are grateful to the Ministry of Finance for a good and constructive cooperation so far – stated Marko Cadez, President of the Serbian Chamber of Commerce.

(Vecernje Novosti, eKapija, 27. / 28.10.2016)

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