The article explains the legal obligations of self-employed entrepreneurs and craftsmen in Serbia regarding the retention of bank statements and other business documents. According to new regulations, the retention period for accounting documents, including bank statements, has been reduced from 10 to 8 years. New thresholds for revenue and profit that determine the obligation to keep accounting books are also specified. Keeping bank statements is important as they serve as proof of business operations before the tax administration, which can conduct audits going back up to 10 years. Violations of these regulations can lead to heavy fines and even imprisonment, especially if documentation is destroyed prematurely or if digital data is not accessible to the tax authorities.
Political Perspectives:
Left: Left-leaning sources emphasize the importance of clear regulations to protect small entrepreneurs from excessive bureaucratic burdens while ensuring transparency and accountability in financial record-keeping. They highlight the need for fair enforcement and support for small businesses to comply with these rules without facing harsh penalties.
Center: Center-leaning sources focus on the factual changes in legislation regarding the retention period of bank statements and bookkeeping obligations. They provide balanced information about the new thresholds and legal requirements, emphasizing the importance of compliance to avoid penalties and the role of these documents in tax audits.
Right: Right-leaning sources stress the reduction of bureaucratic burdens and the positive impact of shortening the document retention period from 10 to 8 years. They highlight the importance of deregulation and reducing unnecessary administrative costs for entrepreneurs, while also warning about the consequences of non-compliance and the need for strict enforcement to prevent tax evasion.
