Implementation of the first phase of the second important segment of tax reform – electronic invoicing – began on May 1, 2022. With e-fiscalization which refers to entrepreneurs and companies that do business with individuals (retail), e-invoicing is the most important tax novelty introduced by the state in the last two years.
Who are the taxpayers – subjects of eInvoicing?
Obligors of issuing, receiving and keeping e-invoices are all public sector entities and all private sector entities that are in the value added tax system. Public sector entities are all users of public funds, ie subjects of the budget system, including public enterprises. In addition to the public sector, users of the eFaktura system are also tax proxies of foreign persons, as well as voluntary users, which include all those entities that are not in the VAT system and do not have a legal obligation, but can choose to use the system voluntarily. If they choose to be in the system voluntarily, they are obliged to use it like any other private sector taxpayer during the current and the following calendar year.
Deadlines for entering the eInvoice system
This reform contains three key dates: May 1 and July 1, 2022, as well as January 1, 2023. From May 1, 2022, the obligation to issue an electronic invoice to a public sector entity was introduced for private sector entities, and from the same day of the public sector issue, receive and store electronic invoices issued by public and private sector entities, as well as electronic recording of VAT calculations.
Regarding the application of the Law on Electronic Invoicing, as of May 1, 2022, the obligation to send electronic invoices to public sector entities by the private sector has been established, which means that the public sector must receive invoices in electronic form, regardless of whether it is a business entity. VAT payer or not.
From July 1, the private sector will have to receive and store electronic invoices issued by public and private sector entities, and from the beginning of next year, the eInvoice system will be completed with a complete transition from paper to electronic invoices for all business entities – legal entities.
SEF – Electronic Invoice System of the Ministry of Finance
The central point of the system is SEF – Electronic Invoice System and all transactions of the obligor, whether with or without compensation and relating to the delivery of goods or provision of services, including advance payment, must be carried out through it.
SEF is an IT platform under the control of the Ministry of Finance through which electronic invoices are sent, received, recorded, processed and stored. The taxpayer is required to register with the SEF in order to send and receive invoices via the application. Invoices are sent exclusively in XML format, and PDF format is optionally sent as supporting documentation.
The second function of the SEF is to record VAT, but it is important to note that recording VAT in the SEF does not affect the existence of the obligation to file a VAT return and fill in the VAT form, which taxpayers are required to do in the same way as before the law on electronic invoicing.
Arguments for and against eInvoice
The two main arguments of the Ministry of Finance in favor of the introduction of the eInvoice system are savings and more efficient control and collection of taxes. The complete digitalization of the creation, transmission, receipt, recording, payment and storage of e-invoices ensures the raising of the level of organization, efficiency, economy and security of the system. Although there will no doubt be a drastic reduction in the consumption of office paper and the use of letter services, many businessmen have questioned whether the obligation to “pass” invoices through the SEF between two purely private entities violates data secrecy and confidentiality. shouldn’t it be her domain?
In this regard, the law itself stipulates that the information intermediary, central information intermediary (SEF) and entities authorized to access the system of electronic invoices are obliged to process personal data only for the purpose specified by law and protect them in accordance with the law governing data protection. about personality.
Customizing ERP solutions
When the full implementation of the Law on Electronic Invoicing by the private and public sectors begins on January 1, 2023, it will be seen in its entirety how much the transition period affected the position of accountant, as well as the suppliers of ERP solutions.
For now, the adjustment of business software and coordination on the taxpayer-accountant-implementer relationship has proven to be a great challenge that consumes the resources of all these actors, especially in the first phase of the system, when there are many ambiguities, doubts and technical difficulties.
According to Dejan Kontić, Sales Director at DATALAB SR, the key item of the offer within their PANTHEON ERP solution is the possibility of sending eInvoices from PANTHEON directly to SEF, without information intermediaries.
This is enabled through the eDocumentation module which can be used directly from the PANTHEON ERP system. In addition to sending and receiving eInvoices, eDocumentation is also used to store all documentation used in the company: incoming and outgoing mail, all accounting documents, commercial, legal and technical documentation – virtually all documents that have so far been kept mostly in paper form. .
As Mr. Kontić, attention paid to the adjustment of the Datalab software solution which supports accounting operations within the company and management of its documentation is at the maximum level because in a real work environment many dilemmas and doubts arise almost every day, and penalties for violating the law on e-invoicing are moving. in the range of 50,000 to as much as 2,000,000 dinars.
Source: Personal magazin by www.personalmag.rs.
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