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The Amendments to the Value Added Tax Law („Official Gazette of the RS“ no. 93/2012)

The National Assembly of the Republic of Serbia adopted the Proposal for the Amendments to the Value Added Tax Law (hereinafter: “Law”) on the Ninth Extraordinary Session which was published in the “Official Gazette of the Republic of Serbia” no. 93 from September 28, 2012 and came into force on September 29, 2012.

Provisions of the Law apply since January 1, 2013 with the following exeptions:

  • Provisions of the Law regarding the VAT rates – general (20%) and special (8%), the precentage of VAT allowance and VAT restitution to the buyer of first apartment in non-profit conditions and in accordance with the legislation on social housing apply from October 10, 2012;
  • Provision on deleting the provision on ex officio removal from the VAT Record applies from December 31, 2012;
  • Provision on authorization for adoption of bylaws apply from the day of coming into force of the Law.

Another novelty introduced by the Law represents increase of the general VAT rate from 18% to 20% applied on the sale of goods and services and import of goods. The measure is applied from October 10, 2012 while the relevant date for VAT rate identification is the date of sale of goods and services.

Also, VAT allowance is increaced from 5% to 8%.

Important novelty represents the increase of census for compulsory registration in the VAT system, resulting in the obligation of taxpayer, which in the last 12 month amounted more that RSD 8.000.000,00 for total sales, to submit a registration form to the competent tax authority, no later than the deadline for delivering periodic tax declaration.

The Law also introduces changes in: deleting taxpayers from the VAT Record, determination of all taxation periods and due dates for submitting the tax declaration, new tax exemptions with or without the right on the input tax deduction.

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