Serbia Implements New Law On Fiscalization

• Published date: 13 May 2021
• Subject Matter: Government, Public Sector, Strategy, Government Contracts, Procurement & PPP, Fiscal & Monetary Policy, Economic Analysis
• Law Firm: Eurofast
• Author: Natasa Nedic

The new law adopted in late December 2020 regulates the subject of fiscalization and its process through an electronic device as well as the content of the fiscal account.

The government aims at a system that will ensure the registration of any retail in goods and services through an electronic fiscal device.

The fiscalization system will facilitate the economy to a great extent but most importantly will reduce significantly the grey economy and improve the tax collection.

Emphasis must be put on that even the received advanced payment from the customer must be recorded and...