The Law on Fiscalization kicks off

The beginning of October 2021 marked the beginning of the registration of business units, i.e. sales facilities of fiscalization taxpayers, which is the first step towards the implementation of the Law on Fiscalization. This law will replace the Law on Fiscal Cash Registers. The new law should improve the control of retail trade in goods and services, better tax collection, as well as make it easier for the Tax Administration to monitor and control taxpayers.

An important novelty is that the Law on Fiscalization significantly expands the list of fiscalization taxpayers by including entrepreneurs who pay tax on income from self-employment, in accordance with the Law on Personal Income Tax. In addition, the law expands the list of electronic fiscal devices, so they can be laptops, tablets, or mobile phones.

Non-compliance with the obligations from the law will be sanctioned in the misdemeanour proceedings, with fines from RSD 300,000 to 2,000,000 for legal entities, or up to RSD 150,000 for entrepreneurs. In addition, as a special measure, the tax inspector may impose measures prohibiting the performance of business from 15 days up to 1 year, depending on whether the irregularity is repeated.

The full implementation of the Law on Fiscalization should begin on January 1, 2022, although there are announcements that the transition period will be extended until April 30, 2022, in order to adjust to the new system.