- Implementation Timeline: The new law will take effect on 15 December 2024, with most obligations starting on 1 January 2025; however, specific provisions regarding subject status, electronic VAT recording, and e-invoice content will have staggered timelines for compliance throughout 2024 and 2025.
- Key Obligations for Entities: Entities in the electronic invoicing system (SEF) must register their VAT status within five days of being listed as SEF users; they will also need to electronically record VAT changes, with a new deadline of the 12th of the month following the tax period and the ability to correct records.
- Penalties for Non-Compliance: Substantial fines ranging from 200,000 to 2 million Serbian Dinar will be imposed for failing to disclose status, not recording VAT electronically, or not using the SEF system; however, corrections made prior to any supervisory oversight will not incur penalties.
Source Orbitax
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