The Government of Serbia has adopted the draft law on Fiscalization, which says that at the moment of retail trade, every receipt must be fiscalized. Also, the data on issued receipts is to be transferred to the Tax Authority’s server via an Internet connection in real–time.
The Association of the Entrepreneurs and Businessmen Protector of Serbia expressed its concerns that the taxpayer of fiscalization is a term defined too broadly, more precisely, as anyone who pays taxes on income from self-employment, and that fiscalization will include flat-rate taxpayers.
The association says that taxation by the method of the flat-rate base has a goal to reduce the administrative burden of that category of taxpayers until they exceed the legally prescribed annual income of RSD 6 million (EUR 51.029). Fiscalization of flat-rate taxpayers makes the flat-rate system meaningless and imposes a great burden on this category of taxpayers which mainly consists of natural persons who perform activities independently. This means – without hiring additional administrative staff such as secretaries, accountants, etc.
Aleksandar Vasić, a member of the association, explains that the issue of introducing fiscal cash registers to flat-rate taxpayers isn’t defined by the draft law. He adds that there are some flat-rate activities exempted from the law, but also some which are obliged to fiscalize.
As it was announced by the Serbian Government, the new model of fiscalization envisions a comprehensive scope of fiscalization, given that certain industries are easily exempted from the obligation to record retail trade via an electronic fiscal device, or only in specifically justified cases.
The Government adds that the new law allows the Tax Authority to easier and more efficiently monitor taxpayer groups where there is a risk of tax evasion. Additionally, this makes it possible for the increase of tax control in the seat of the Tax Authority, which reduces the need for field control.
The new law should enable more efficient control of all deliveries of goods and services provided, including received advances for future trade in goods and services.
The Serbian government also claims that the proposed legal solution will eliminate the obvious shortcomings of the current fiscal system (fiscalization/defiscalization procedure of fiscal cash registers, regular servicing, storing control tapes, etc.). This should also reduce business costs, eliminate unnecessary administration, and create a better business environment.
The new system should bring significant relief to the economy, primarily through administrative relief, but also through reduced business costs. After the introduction of the new system, the fiscalization process will be faster and simpler, and the most important advantage is the fact there won’t be any need for any additional written and printed documents. The current obligations to print and keep fiscal receipts are a thing of the past.
The Minister of Finance of Serbia, Siniša Mali, already promised that all the costs of the new fiscal system will be handled by the country. The new system is expected to be fully implemented by January 1, 2022.