As announced by the Ministry of Finance, starting from 1 September 2024, the electronic invoicing system will operate under a new model. The evidence model has been changing intensively in recent times. The latest changes occurred on 2 August 2024, when the Ministry of Finance adopted two nex rulebooks in the field of tax law:
- The Rulebook on Amendments and Supplements to the VAT Regulation (“Official Gazette of RS”, No. 65/24), as well as
- The Rulebook on Amendments and Supplements to the Electronic Invoicing Regulation (“Official Gazette of RS”, No. 65/24).
The rulebooks will come into force on 10 August 2024, and will apply from the beginning of the following month, from the tax period for September 2024 (for monthly VAT payers) and for the tax period October-December 2024 (for quarterly VAT payers). Some of the most important planned novelties are mentioned below:
- Data in the evidence of calculated VAT will be organized in such a way that, in addition to indicating that it concerns taxable turnover, there will also be a divided by tax rates, as well as there will existe the division of data on the turnover of construction objects. In other words, there will be an additional division of previous VAT based on the first transfer of construction objects and based on other turnovers.
- It will be possible to record previous VAT as combined data grouped according to the document on which the VAT is stated, i.e. whether it is stated on an eInvoice, fiscal receipt, or other document.
- Previous VAT used under so-called internal calculations will be reported divided into the part that relates to calculations for foreign accounts and calculations for VAT taxpayers .
In addition to the aforementioned novelties, discussions are expected regarding the abolition of Overview of VAT Calculations in the near future. Namely, the Overview of VAT Calculations has not shown the expected effects, and many consider it represents an unjustified additional burden. However, the reform of the evidence system is still ongoing, and more novelties are anticipated. The goal should be to enable the electronic invoicing system to create a preliminary tax return for taxpayers based on existing data.
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