In the next year and a half, Serbia plans to introduce electronic shipping documents and electronic excises, with the implementation of an electronic VAT declaration for automatic refunds set for 2026. “When we initiated our fight against the gray economy ten years ago, Serbia was on the verge of bankruptcy. Today, we are the second fastest-growing economy in Europe, set to host EXPO 2027 and recently, Serbia received an investment rating,” stated Siniša Mali, Deputy Prime Minister and Minister of Finance, during a meeting of the Government’s Coordination Body for Combating the Gray Economy, which marked the initiative’s tenth anniversary. He highlighted the significant transformations Serbia has undergone over the past decade, attributing much of the progress to the efforts of the Coordination Body.
Mali announced that Serbia has a comprehensive strategy to combat the gray economy, with a new strategy to be adopted next year, extending through 2030. “We have achieved over 70% of our goals,” he noted, pointing out key reforms such as the introduction of e-fiscalization, which allows real-time updates between cash registers, consumers and the Tax Administration regarding receipt validity. Other significant reforms include the rollout of e-invoices, revamped inspection oversight, a new Public Procurement Law, expanded cashless payment options, and a regulated tax framework for freelancers.
Additionally, a new Law on Simplified Seasonal Employment in Agriculture has been implemented, simplifying the process for obtaining a tax identification number for new businesses while steadily reducing tax burdens on wages through increased non-taxable income. During the conference, an Agreement on Cooperation to Combat Illegal Trade was signed by Tomislav Momirović, Minister of Internal and Foreign Trade, and Zoran Daljević, Deputy Chairman of the Coordination Body and President of the NALED Association for Fair Competition.
