In addition to dealing with current topics emerging from new fiscalization and the electronic invoicing system, LeitnerLeitner – to the satisfaction of its numerous clients – is presently also dealing intensively with standard topics in the tax domain and relevant issues in the field of accounting
In accordance with recommendations contained in the Foreign Investors Council’s 2021 White Book, Serbia should work on solutions that encompass the digitalization of labor and legal documents, more flexible conditions for working from home, as well as more flexible conditions and procedures for terminating employment.
What are foreign investors most critical of regarding our economic environment? What should we work on?
The latest publication of the Foreign Investors Council’s 2021 White Book recommended, among other things, amending the property tax law and ensuring the valuation of property at a fair value for corporate income tax purposes, as well as facilitating the use of digital signatures, so they become available to the largest number of citizens. The White Book includes analysis of nine areas selected as priorities, namely: taxes, labor regulations, digitalization and ecommerce, real estate and construction, illicit trade prevention and inspection oversight, food and agriculture, bankruptcy, foreign exchange regulations and pharmaceuticals.
How significant for the economy as a whole is the new law on fiscalization and the digitalization of transaction operations through the system of electronic invoices?
The main novelty of the new Law on Fiscalization is that every invoice is fiscalized at the moment a retail transaction is performed, and information on the transaction is forwarded to the Tax Administration in real time. The Tax Administration thus receives timely information on transactions, which enables better tax control and collection. In step with new fiscalization, we are also approaching the introduction of the electronic invoicing system, as another step forward in the digitalization of operations.
In step with new fiscalization, we are also approaching the introduction of the electronic invoicing system, as another step forward in the digitalization of operations
The idea of the electronic invoicing system is to speed up and simplify the operations of businesses, and it certainly also contributes significantly to the green agenda. Introducing electronic invoicing reduces the risk of error, increases transparency of operations and ensures delivery certainty, with which the better collection of receivables would be ensured. Additionally, the benefits to employers include a reduction in processing costs, storing invoices and, perhaps most importantly, preventing the possibility of changing the contents of an invoice, which enables greater operational security.
LeitnerLeitner is known for its seminars, congresses and conferences. What are the most relevant topics today at your professional/ expert events?
Considering that the most current topics in recent times emerge from the new fiscalization and electronic invoicing system, we have organized a large number of internal training courses for our clients that address these topics. As legislation has been changing rapidly in recent years, the training we organize always deals with topics that are current at that moment. Of course, there are standard topics in the tax domain that are always current, which includes current issues related to Value Added Tax, Corporate Income Tax/transfer prices, Personal Income Tax (payroll), Income Tax on Foreign Nationals (expats), as well as relevant current issues in the field of accounting.
We regularly organize webinars on the topic of international taxation, where we work together with colleagues from our other offices across Europe to address certain topics and accordingly identify parallels between different tax environments in terms of similarities and differences, which has been recognized by our international clients and partners as being very useful and informative training.