The Ministry of Finance published on 23rd October, 2020 a draft version of the Fiscalisation Act which aims to create better conditions for combating grey economy and allowing more efficient control and collection of tax.
The existing Ficalization Act of 2015 is being amended to include the following innovations:
- More efficient control and collection of tax by the Tax Authority;
- All-encompassing fiscalization with possible exemptions from recording retail sales in a fiscal cash register for certain industries;
- Elimination of the current faults of the fiscalization system, reduction of operating costs and building of a more sound business environment;
- Real-time transfer between a taxpayer and the Tax Authority of data regarding issued fiscal receipts;
- Introduction of a safety element for signing fiscal receipts;
- Implementation of an electronic fiscal device with the approval and under the supervision of the Tax Authority;
- Recording of advance payments through this electronic fiscal device, etc.
Due to the coronavirus pandemic, interested parties may send in their comments about the proposed draft of the Fiscalization Act during the period between 23rd October 2020 and 2nd November 2020 at fiskalni.sektor@mfin.gov.rs.
The amended Fiscalization Act shall apply from 1st January, 2022, so that the government has enough time to make the necessary by-laws.
To view the draft legislative act, please click on the following LINK
