New Law on Fiscalization – what it brings and when it refers

The new Law on Fiscalization, which was passed by the National Assembly of the Republic of Serbia on December 17, 2020, will be applied from January 1, 2022. The amendments to the law came mostly due to the progress of technology.

Detailed analyzes of the existing fiscalization system were performed and it was determined that there is a need for its improvement. The goal is more efficient control of economic entities and better tax collection, as well as the suppression of the gray economy and equal conditions for all market participants.

This can be done by tracking each account in real time. The Tax Administration will transfer data on issued fiscal invoices via a permanent internet connection. What are the newspapers he brings Fiscalization Law and when everything refers, we will find out below.

Fiscalization Law

What is fiscalization and what is the subject of fiscalization?

Fiscalization is a fiscal law whose task is to prevent illegal invoicing. It is a way of recording the turnover of goods and services in retail trade, which is done through special electronic fiscal devices.

The first country to introduce a fiscal law regarding the use of fiscal devices in 1983 was Italy, while in Serbia the fiscalization project was launched in 2004. According to the Law on Fiscalization, the fiscal invoice must be printed out and given to the customer using a fiscal device: an electronic cash register, a fiscal printer and an electronic signature device.

The subject of fiscalization is the turnover of goods and services at retail, ie the turnover of goods and services to individuals, as well as any turnover of goods and services in retail outlets, regardless of who is the buyer / user of products or services, including turnover .

Nova fiscalization 2020 orders that taxpayers issue a fiscal invoice at the time of the transaction via an electronic fiscal device, as well as to submit data on the issued invoice to the Tax Administration in real time.

What is not defined by the Law on Fiscalization is the way in which goods and services can be traded. This is defined by the Law on Trade. The trade can be done at the point of sale (sales facility, portable sales facility, etc.), it can be done by traveling merchants and it can be a remote store (e-commerce, dropshipping, web shop).

Subject of fiscalization

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Novelties in the Law on Fiscal Cash Registers

Some of the most important innovations brought by the new Fiscalization Law relate to items of fiscalization. Now, these are the received advances for retail trade and every other turnover in the retail facility, regardless of whether the buyer is a natural or legal person.

The subject of fiscalization is the turnover made through self-charging devices – vending machines and it is clearly defined who are the taxpayers of fiscalization. The terms “fiscal clip” and “fiscal cash register” are no longer used. Instead, a fiscal account and an “electronic fiscal device” are now being used.

Existing cash registers are being phased out and can no longer be used to work with POS software. They will be replaced by POS printers. The NI form, ie the correction order, as well as the daily report, periodic report and cross-section of the situation will no longer be applied.

To whom it refers, and to whom it is not the new Law on Fiscalization

If you want to open a company, you must be well informed about the legal regulations. It’s important make a good strategy and set aside time for it, but it is also important to always be up to date with changes in the law. Such is the situation now in the activities that will have the obligation to fiscalize the accounts from January 1, 2022: hairdressing and beauty salons, betting shops, museums, sports centers and the like.

If the turnover of goods or services is realized through electronic sales (web shop, e-commerce, sales through social networks), traders will have to fiscalize their accounts.

Unlike them, taxi drivers and lawyers, veterinarians, telecommunications, public postal service and a large part of financial services will be able to work without online fiscal cash registers. The same applies to education, but without the code 85.5, which includes other education (language learning, computer training, etc.) that will require cash registers.

Within the activities related to the trade of goods and services in retail, two cases are envisaged for which there is no obligation of fiscalization: retail trade by traveling traders and street vendors, as well as market sale of own agricultural products.

Alignment with the new fiscalization by the end of 2021

The key innovations brought by the new Law on Fiscalization are related to the procedure of issuing fiscal invoices. The Tax Administration expects that there will be a reduction in the size of the gray economy and better tax collection with electronic fiscalization of accounts.

Namely, the control of taxpayers will be performed more efficiently and the number of possible attempts at tax evasion will be reduced. The law has entered into force, but it remains for the taxpayers to harmonize their operations with the new regulations by the end of 2021.

And very important information is that the new system of fiscalization will be completely free for taxpayers.

Source: Portal o ekonomiji by

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