On 14 April 2021 the Official gazette of the Republic of Serbia No.37 published that the Ministry of Finance of Serbia adopted a Rulebook on the Value Added Tax. 

The new rulebook replaces 27 individual rulebooks in the field of VAT, which are now in force and it comprises 282 articles, 19 forms and 33 chapters. On the day of the VAT Rulebook application all individual rulebooks cease to be valid with the remark that this does not refer to the three decrees passed based on the Law on VAT. 

The Rulebook enters into force on the eighth day from the day of its publication, i.e. June 22 will be applied from July 1, 2021. 

As of July 1st, 2021, the VAT regulations will consist of: 

  • Law on Value Added Tax; 
  • Rulebook on value added tax; 
  • Decree on quantity of waste; 
  • Decree on the criteria on the basis of which it is determined what, in terms of the Law on Value Added Tax, is considered the predominant trade of goods abroad; 
  • Decree on the implementation of the Law on Value Added Tax on the territory of the Autonomous Province of Kosovo and Metohija for the duration of the UN Security Council Resolution No. 1244. 

The Rulebook on VAT is based on individual provisions of the existing rulebooks, but provides a number of significant changes such as turnover in the construction field, invoice issuance, VAT base, tax exemptions and other.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.