The Statistical Office of the Republic of Serbia has announced that public consultations on the draft Regulation on the Classification of Activities are being held from 15 to 29 May, during which interested parties may submit proposals, suggestions, and comments.
Back in 2010, Serbia harmonized its domestic classification of activities with the then applicable European classification, NACE Rev. 2. However, since the European Union introduced the new version – NACE Rev. 2.1 – as of 1 January 2025, Serbia is now expected to undertake a new round of harmonization with EU law.
The draft Regulation provides for:
- a new Classification of Activities 2025;
- a correspondence table between the classification established under the 2010 Regulation and the new Classification of Activities 2025.
Although this may appear to be merely a technical matter, the new classification is relevant for a large number of business entities, given that activity codes are used in registration procedures, statistical records, tax records, and various administrative procedures.
Changes to activity codes and business activity descriptions in official registers
Following the adoption of the new Regulation, activity codes and business activity descriptions in the registers maintained by the Serbian Business Registers Agency (SBRA) will also be harmonized with the new classification. According to the currently available draft, the SBRA will carry out these changes ex officio and free of charge, within 30 days from the entry into force of the Regulation. No separate decision on the change will be issued, as the updated information will instead be published on the SBRA’s website.
At the same time, the draft Regulation allows registered entities to react if they believe that the newly assigned activity code does not accurately correspond to their previously registered activity under the earlier classification. In such cases, the entity may propose to the SBRA the activity code it considers appropriate.
The obligation to harmonize activity codes will not apply only to the SBRA. Other authorities maintaining special registers will likewise be required to update activity codes and activity descriptions in accordance with the new classification.
Although this is formally a harmonization with European standards, practice will show how accurate the automatic conversion of existing activity codes into the new classification will be, particularly for entities engaged in specific or mixed activities. Precisely for this reason, the possibility for a registered entity to propose a correction of the newly assigned code may prove significant.
For additional information or consultations, the Tasić & Partners team is at your disposal.