What the new rules on fiscalization envisage

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The application of the Law on Fiscalization has been postponed until April 30, 2022. This means that taxpayers must record retail sales via an electronic fiscal device no later than May 1, otherwise they face significant fines.

A fine of 300,000 to two million dinars will be imposed on a legal entity – a taxpayer for fiscalization if it does not record through the electronic fiscal device every individually realized retail trade, including received advances for future retail trade.

The same penalty is envisaged if the taxpayer does not issue a fiscal invoice as of May 1 and if it does not contain mandatory prescribed data or incorrect data are important for the amount of tax liability. This means that at the time of the transaction, he must issue a fiscal invoice using an electronic fiscal device.

The president of the Association “Accounting Chamber of Serbia”, Snezana Mitrovic, points out that the prescribed penalty includes a misdemeanor if the uninterrupted operation of at least one electronic fiscal device is not ensured in every business premises and business premises that are awarded a unique label.

The taxpayer is obliged to issue an invoice that is not fiscalized at the time of retail trade and will be fined even if he does not submit data on issued fiscal invoices to the Tax Administration via a permanent real-time Internet connection.

“We must remind that the Accounting Chamber of Serbia, in cooperation with other business associations, asked the Ministry of Finance to postpone the deadline for the implementation of the Law on Fiscalization until December 31, 2022. The reasons are, as it is now, as in the past, the provisions in the bylaw stipulate the obligation to provide an accounting document in the retail facility, ie a daily report on the performed retail trade with the specification of the collected funds for the sold goods “, says Mitrović.

Penalties for non-compliance

For violations, in addition to the legal entity, the responsible person in the legal entity liable for fiscalization will be fined from 20,000 to 150,000 dinars. An entrepreneur – obligor of fiscalization will be fined from 50,000 to 500,000 dinars for the mentioned violations.

Also, the responsibility lies with a natural person who is a taxpayer of income tax from self-employment, and who is not an entrepreneur. If he commits the mentioned violations, he will be fined from 20,000 to 150,000 dinars.

Why are daily reports important?

The daily report is important for all taxpayers who keep business books in accordance with the Law on Accounting, where they are obliged to record the debt relief of sold goods in the retail facility on the basis of a valid accounting document, certified by an authorized person.

They are also obliged, if they are taxpayers in the VAT system, to record the VAT liability for goods sold in retail trade, taxed at the prescribed rates, in accordance with the Law on VAT and the Rulebook on VAT records.

The daily report is necessary to compare the data created in it at the end of the working day, for the goods sold in the retail facility, and the data recorded in the Internet transmission in the Tax Administration in the fiscalization management system.

Our interlocutor states that this document is also important in shift work as the handover of collected funds until the moment of dismissal of employees who use an electronic fiscal device. In addition to the daily report, it is necessary to enable the formation and printing of a periodic report on retail trade in the ESIR (electronic device). All these reports are also important for the tax procedure performed for the realized turnover of retail goods sold to final individuals.

“Our advice to accountants is to recommend to their retail clients and for whom they keep business books to be sure to choose a supplier for electronic fiscal device (ESIR) that has in the program arranged to be able to form and print a daily report on retail sales with specification of collected funds and with a separate amount of turnover that is taxed at the general rate of 20 percent for VAT and a special rate of 10 percent for VAT, as well as the possibility of forming a periodic report, “explains Mitrovic.

She adds that the daily report, as an important accounting document in accordance with the law, must be certified by an authorized person.

For taxpayers who pay tax on the basis of a lump sum determined income, the amount of goods sold at retail is also important, recorded in the daily report with the amount of collected collection funds for goods sold, because the data is recorded in the KPO form.

“We believe that the reform is important and should be supported, but this reform must be appropriate to all current circumstances that make it difficult for taxpayers in Serbia. A binding daily report on retail trade should be introduced, as prescribed in the previous period. In the bylaw, which defined the rules for recording turnover through the fiscal cash register, Nova reports.