Don’t miss December 2023 edition - stay up with the latest tax news I. Electronic archiving obligations

The Law on Archival Material and Archival Activity has been in effect since February 2, 2021. However, what is currently relevant regarding implementing this law is that starting January 1, 2024, the Regulation on Unified Technical and Technological Requirements and Procedures for the Storage and Protection of Archival Material and Documentary Material will be enacted concerning business entities that store or intend to store and archive documentation, records and acts in electronic form.

New obligations regarding electronic archiving

II. Amendment to the law on fees

Amendments to the Law on Fees for the Use of Public Goods include the following changes:

• The fee payer is also a branch of a foreign legal entity that performs certain activities affecting the environment.
• A construction site where activities are carried out continuously for 12 months is considered a separate business unit.

Amendment to the law on fees for the use of public goods (eco tax)

III. Changes to the value

Amendments to the Regulation on Amendments to the Value Added Tax Regulation, which will apply from January 1, 2024, include the following changes:

New Form EZPPDV - Record of requests from passengers for VAT refund:

It is significantly more detailed and includes, among other things, a serial number of the record, the name and surname, the passport/travel document number of the buyer-passenger, the date of the VAT refund request, and the method of VAT refund.

Changes to the Value Added Tax Regulation

IV. Amendments and supplements

The National Assembly of the Republic of Serbia adopted, on October 27, 2023, the Law on Amendments and Supplements to the Electronic Invoicing Law.

Amendments and supplements to the Electronic Invoicing Law

V. Basis for payment of contributions

The lowest and highest contribution base amounts for mandatory social insurance in 2024 were determined based on published data on the average salary in Serbia paid for the period from October 2022 to September 2023 ("Official Gazette of RS", number 104/2023).

Basis for payment of contributions for mandatory social insurance in 2024

VI. The deadline for submitting the notification

The personal income is the amount of funds that the entrepreneur payout and records in the business books as his monthly personal income, increased by the corresponding taxes and social contributions.

The deadline for submitting the notification on the personal income payment of the entrepreneur's salary

VII. Amendments to the lump sum taxation

Amendments to the Regulation on Detailed Conditions, Criteria, and Elements for the Lump Sum Taxation of Income Taxpayers, which apply from January 1, 2024, stipulate a 50% reduction in the tax base for newly registered entrepreneurs in the year of registration.

Amendments to the Lump Sum Taxation of Entrepreneurs

VIII. The reference interest rate

The Executive Board of the National Bank of Serbia decided at the December 7, 2023, meeting to maintain the reference interest rate (RIR) at 6.50%.

The reference interest rate remains at 6.50%

IX. Monthly inflation (consumer prices) in October

Prices of products and services for personal consumption in October 2023, compared to September 2023, increased on average by 0.3%.

Monthly inflation (consumer prices) in October 2023 is 0.3%

X. The average salary

According to the statement of the Republic Institute of Statistics number 319 from November 24, 2023:

• The average gross salary in Serbia, paid in September 2023, was 117,472.00 dinars.
• The net average wage in Serbia (without taxes and contributions), paid in September 2023, was 85,066.00 dinars.

The average salary for September 2023

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