Features of the New Law on Fiscalization – Fiscal Registers to be Approved by Tax Administration, Traders Also to be Required to Have an Internet Connection

The implementation of the new Law on Fiscalization begins on January 1, 2022, and the Ministry of Finance has prepared a working version of the draft law, which envisages the fiscalization of each bill at the moment of the retail transaction and the sending of the data on the issued fiscal bills to the Tax Administration through a constant internet connection in real time, the ministry announced.

– In exceptional cases, if data on issued fiscal bills cannot be submitted in real time due to the internet connection being temporarily unavailable or unavailable at the point of sale, there is an obligation of storing the data in the internal memory of the electronic fiscal device until the moment the data is transferred to the Tax Administration – the press release says.

Also, the law says that fiscalization subjects must use a security elements for the signing of fiscal bills for the purposes of the execution of the fiscalization procedure and confirmation of identity when exchanging the data and the information with the Tax Administration.

The Draft Law on Fiscalization proposes for the fiscalization subject to issue, at the moment of the retail transaction, including the received advanced payment for a future retail transaction, a fiscal bill by using an electronic fiscal device, which consists of the defined elements (fiscal bill processor and electronic bill issuing system), whose use is previously approved by the Tax Administration.

As said, the Tax Administration will establish a register of the elements of electronic fiscal devices whose use is approved, whereas fiscalization subjects also have the option of developing and implementing a device for their own purposes, which is also subject to the Tax Administration's approval before use.

They say that the new model of fiscalization envisages an all-encompassing fiscalization, with the possibility of excluding certain activities from the obligation of registering retail transactions through an electronic fiscal devices only in justified cases. They add that the proposed legal solution will remove the detected flaws of the current system of fiscalization (the procedure of fiscalization/defiscalization of fiscal registers, regular servicing, the keeping of control strips etc.), whereby the operating costs are reduced, excess administrative procedures are removed and a better business environment is created.

– The new fiscalization system allows the Tax Administration to more efficiently monitor and control the taxpayers which are suspected of tax evasion and to increase the number of tax controls at the very seat of the tax authority, which reduces the need for on site controls – the press release says.

Furthermore, the new law envisages that the purchasers, that is, the users of services, can check whether their fiscal bill is issued in line with the law, immediately upon the issuing.

– Before the Draft Law on Fiscalization is adopted, consultations with business entities and other interested parties will be carried out, so that they would be informed of the proposed legal solutions properly and on time, whereby they would be enabled to contribute to the further improvement of the proposed solutions – they says.

The ministry reminds that the existing Law on Fiscal Registers has been in effect since January 1, 2005.

The new one should be implemented on January 1, 2022, so that the pertinent bylaws could be adopted in the meantime and so that the fiscalization subjects would be given enough time to harmonize their operations with the stipulations of the new law.

Mali: The state will handle the responsibility of introducing new fiscal registers

– The state will take most of the responsibility of introducing those fiscal registers upon itself and the companies will not be burdened by it. It will cost around 3.5 to 4 billion dinars and we believe that the investment will pay off – Serbian Finance Minister Sinisa Mali said.

As he added, the law was last amended in 2012.

– The times have changed since then, along with the technology and the business environment – Mali said.

Ministarstvo finansija Republike Srbije

Poreska uprava Srbije

Law on Fiscalization

working version of draft law

electronic fiscal device

fiscal registers

Law on Fiscal Registers

issuing of a fiscal bill

fiscal bill