Stefan, Author at Creative Finance

November 10, 2021

Undocumented Expenses and Expenditures That Are Not Incurred in Order to Perform Activity – Expenditures That Are Not Recognized in the Tax Basis Balance Sheet The expenses that cannot be documented and the expenses that are not incurred in order to perform a business activity are not debited to the expenditures recognized in the tax basis balance sheet. The tax base for the income of a legal entity i.e. entrepreneur is increased for the amount of expenditures.

November 4, 2021

In business and accounting practice, we often encounter the situation that legal entities, especially entrepreneurs, use business premises located at the same address where the company is headquartered and do not pay rent. Natural person, the owner of the business premises hands over his premises to the legal entity and entrepreneur for free use, so...

October 28, 2021

A lease is an agreement because it is regulated by law (Apartment lease, Equipment lease, Vehicle lease, etc.), it is usually formal and must have a written form. It does not have to be notarized to be valid. The Law of Contract and Torts (serb. ZOO) regulates the basic provisions of this law.

October 20, 2021

To determine the lump-sum tax base, the Tax Administration uses the average monthly salary per employee for the last 12 months, taking into account the area, where the salary is received.  The average salary in the Republic, city or municipality, determined in this way, is multiplied by the official number of employed people and a business activity coefficient and then divided by...

October 13, 2021

The term “lump-sum taxpayer” is a very popular choice of among entrepreneurs in our country due to the smaller number of obligations and, subsequently, easier way for their settlement. Opting for the lump-sum taxation model does not imply that this will be the cheapest option; all pros and cons shall be thoroughly considered in every single case.

September 30, 2021

The legislator has foreseen potential oscillations and regulated potential changes in the amount of monthly income tax advances by the Article 68 of the Income Tax Law.  This means that this article stipulates the possibility to submit Periodical Tax Basis Balance Sheet in order to consolidate the income tax for the current period as adequately as possible.