Method of Accounting and Content of the Previous Tax

Previous Tax Serbia – According to Article 28a, Paragraph 1 of the Regulation on Electronic Invoicing, the accounting of the previous tax in SEF will be carried out cumulatively for the tax period within 10 days after the end of the tax period. According to Article 28a, Paragraph 2 of the Regulation, the deadline for accounting for the previous tax expires on the tenth day of the calendar month following the tax period for which electronic accounting of the previous tax is performed. The accounting is carried out partially through automatic data entry and partially by user input.

According to Article 28v, Paragraphs 1 and 2 of the Regulation, the automatic data entry in the accounting of the previous tax is carried out after the end of the tax period for which electronic accounting of the previous tax is conducted, from the 1st to the 10th of the calendar month following this tax period. When data is entered automatically, it is recorded as of the day preceding the day of automatic entry.

Automatic data entry is performed for all types of electronic invoices (final, advance, and adjustment documents) issued to VAT taxpayers, regardless of whether the invoice has been accepted, rejected, or is in “sent” status, as well as for canceled electronic invoices. The taxpayer will enter the amount they can deduct as the previous tax. In order for the taxpayer to deduct the previous tax from the electronic invoice, this invoice must be accepted by the taxpayer.

VAT from individual reports that are in “accounted” status will be automatically accounted for. The user will need to independently enter the amount of VAT they are entitled to deduct as the previous tax. All other previous taxes (from fiscal receipts and other invoices issued outside of SEF) will need to be entered by the user independently in the accounting of the previous tax.

According to Article 28a, Paragraph 3 of the Regulation, data related to purchases from VAT taxpayers is recorded cumulatively by sources — types of invoices:

• electronic invoices
• fiscal receipts
• other invoices

Data related to purchases from foreign entities or VAT taxpayers, based on which the taxpayer is the recipient (internal VAT calculation), is recorded cumulatively from individual VAT reports compiled based on internal invoices:

• internal invoice — foreign entity
• internal invoice — VAT taxpayer

Data on purchases of goods and services that are not subject to VAT will not be recorded in the accounting of the previous tax.

The accounting of the previous tax can be in the status of: accounted and adjusted.