The Minister of Finance of Serbia, Sinisa Mali, announced today that the law on fiscalization and the law on electronic invoices will be adopted soon, and they will be adopted from January 2022.
“The Ministry of Finance has published the Draft Law on the Introduction of New Fiscal Cash Registers on its website, and a public debate on it will begin in the coming days,” Mali said at a press conference.
As he explained, the intention is to facilitate the work of the Tax Administration through the system of online monitoring of the turnover of each account and reduce the share of the gray economy in the economy.
Mali pointed out that the state will bear most of the costs for the introduction of new fiscal cash registers, so that the detention would not have an additional cost.
According to him, 29 million euros will be provided from the budget for 2021, and that investment will pay off, as he estimated in the next year to a year and a half.
He pointed out that the time has come for change, because now it operates according to the law on fiscal cash registers from 2004, and the last changes were in 2012, and the changes are technology and the business environment.
The Minister of Finance said that the law on electronic invoices will also be important for reducing the gray economy and possible irregularities, but also for speeding up the VAT refund.
“It is a systemic solution that the economy was looking for. There will no longer be paper invoices and signatures, but the system will be based on pairing electronic invoices,” Mali explained.
He added that, if the invoices are matched and everything is in order, there is no reason for the state not to return the VAT for those two invoices the next day, Beta reports.
