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Recognition of Corporate Cards for Purchase of Goods and Services in Fiscalization and VAT Regulations

Recognition of Corporate Cards for Purchase of Goods and Services in Fiscalization and VAT Regulations

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Usage of corporate cards issued by goods and services providers to their corporate clients, have been recognized and regulated by the latest amendments of relevant Serbian regulations related to fiscalization and to VAT.

The latest amendments of the Serbian Rulebook on types of fiscal receipts, types of transactions, payment methods, reference number of other documents, and specificities of other elements of fiscal receipt (“Official Gazette of the Republic of Serbia”, nos. 31/2021, 99/2021, 10/2022 and 49/2022) – the Rulebook on Fiscal Receipts – that came into force on 22 April 2022, treat corporate cards as one of the manners of payment for goods and services and impose an obligation of issuance of fiscal receipt and obligation to issue a separate invoice, in accordance with VAT regulations.

Simultaneously, the latest amendments of the Serbian VAT Rulebook (“Official Gazette of the Republic of Serbia”, nos. 37/2021, 64/2021, 127/2021, and 49/2022) were rendered, synchronizing the VAT regulations with the above amendments of the Rulebook on Fiscal Receipts. The VAT Rulebook addresses fiscal receipts issued on the basis of the use of corporate cards in the provisions that regulate whether a fiscal receipt is or is not considered an invoice, in terms of VAT Law, stating that fiscal receipt issued on the basis of purchase via corporate card is not an invoice pursuant to VAT Law. The general importance of this distinction remains the same – in cases when fiscal receipt is considered as an invoice in terms of VAT Law, when and if issuing a separate invoice, the VAT taxpayer does not have to indicate on such invoice all data required by VAT Law, but may only indicate the total payment amount for the subject transaction.

By Nikola Djordjevic, Partner, and Marija Vukcevic, Senior Associate, JPM Jankovic Popovic Mitic

Serbia Knowledge Partner

SOG in cooperation with Kinstellar is a full-service business law firm in Serbia that provides foreign and domestic clients with premium-quality legal advice and assistance across a wide range of key areas of corporate law. The firm was founded in 2015 by a group of seasoned, internationally-trained lawyers. SOG has developed a distinctively dynamic culture, bringing together top talent, fostering entrepreneurship, and maintaining exceptional relationships with its clients.

SOG has achieved consistent growth in the volume of its business, accompanied by an exponential increase in the number of hired associate lawyers and the firm’s network of business contacts. SOG has a robust client base of multinationals, investment and private equity firms, and financial institutions. Clients praise SOG for being commercially minded, very responsive and knowledgeable.

Establishing permanent cooperation with Kinstellar is part of realising SOG's long-term development strategy to be the leading provider of legal services in the Western Balkans market.

Firm's website: https://www.kinstellar.com/


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