In previous articles we discussed the complexity of the Individual Income Tax Law, as well as the scope and types of income that are subject to its application. The income from self-employment is regarded as highly significant. The tax legislation of Serbia addressed the matter of engaging in self-employment through the possibility for entrepreneurs to opt for lump-sum taxation method or real income taxation method

The Individual Income Tax is regulated by the Individual Income Tax Law in the tax system in Serbia. This law determines the taxation method and procedure for the natural persons who generate income. It is obvious that this form of taxation is one of the most complex to understand, not only for the non-residents, but for the residents of Serbia, as well.

The novelties referring to creating and submitting the financial statements for the business year 2022 are listed in Article 16, Paragraph 1 of the Law. Namely, there it is regulated that keeping business records and creating financial statements for a legal entity, i.e. entrepreneur, can be entrusted by contract in accordance to the law to a legal entity or an entrepreneur which is listed in the Register of Accounting Services Providers…