Blog - Creative Finance

Accounting terms

In accordance with the Article 40 of the Individual Income Tax Law, a self-employed taxpayer submits an application for lump-sum taxation to the competent Tax Administration. During the process of registration with the Business Registers Agency, new entrepreneurs opt for lump-sum taxation by filling in forms. This complies with the Article 42 Paragraph 2 of the Individual Income Tax Law, where the Business Registers Agency forwards this application to the Tax Administration...

Donations - When legal persons and entrepreneurs donate funds for medical, educational, scientific, religious, sports or environmental purposes, etc., they report expenditures, whether these refer to charitable financial contributions or those in kind.

A certificate of preferential origin of exported goods can be written on an export invoice itself. The Article 90 of the Directive on the Allowed Customs Treatment of Goods prescribes who can write the certificate of origin on an invoice and when they can do it.

The market conditions, under which the international trade in goods has been performed over the last months, are significantly determined by customs rules. Preferential origin status is given to exported goods in order to exercise the right of exemption from duty fee in the country of import, under the condition that the country is a member of the same customs unions as the Republic of Serbia or that those countries concluded a free-trade agreement with Serbia.

Under the condition of minimum market disruption, one of the ways to solve liquidity issues is compensation. In terms of the domestic payment operations, the term 'compensation' refers to a set-off conducted by business partners related to due invoices.

The legislation od the Republic of Serbia stipulates that property tax is an obligation of natural persons (residents and non-residents) owning real estate within the territory of the Republic of Serbia, the value of which exceeds 400,000 dinars and is not excluded from tax payment. Property tax is payed on the following real estate rights...

  Property is a body of ownership rights and obligations of a natural person or legal entity. The term ‘property’ commonly includes the following rights: property, obligational, intellectual property and inheritance rights, as well as the debts arising from them. Some of the basic property characteristics are that it cannot be taken away from a natural person or legal entity and it is subsequently inalienable, that it exists as long as a person exists, that it is transferred to other persons as a legacy or enters bankruptcy estate.

Serbia has been working on the improvement of investment opportunities for years and, in terms of that, it has introduced numerous amendments to different laws to attract foreign investors. In that context, there have been some significant changes that have put Serbia high on the list of countries that many foreign nationals opt for when making decisions on living and working on its territory...

Costs of forced collection of tax and other debts and costs of tax offence proceedings and other proceedings conducted before a competent authority According to the Law provisions, the following costs shall not be recognized as expenditures...