From July 1, Serbia will implement stricter controls and penalties for errors in electronic VAT record-keeping through the electronic invoicing system (SEF). Previously, there was a transitional period allowing technical errors that did not affect the total VAT calculation, but from July such errors will no longer be tolerated and will be subject to fines up to two million dinars for legal entities. Tax advisor Gordana Aritonović emphasizes the importance of thoroughly checking the compliance of records, as errors are no longer a technical issue but a tax risk. The SEF system is continuously being improved, and the introduction of a preliminary tax return is expected to further automate and simplify VAT filing. However, due to frequent changes in regulations and inconsistent interpretations, businesses face confusion and challenges in applying the new system.
Political Perspectives:
Left: Left-leaning sources emphasize the challenges and confusion faced by businesses due to frequent changes in regulations and inconsistent interpretations. They highlight the need for the government to provide better support and understanding for businesses during the transition to stricter enforcement of electronic VAT record-keeping.
Center: Center-leaning sources report the facts about the new regulations and penalties, focusing on the importance of compliance and the benefits of the electronic invoicing system in improving transparency and efficiency. They present expert opinions on the expected improvements and the necessity of adapting to the new system.
Right: Right-leaning sources stress the importance of strict enforcement to prevent tax evasion and ensure proper tax collection. They support the introduction of penalties for errors in VAT records as a necessary measure to increase fiscal discipline and reduce fraud, emphasizing the role of the electronic invoicing system in strengthening state control.
