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Transfer of functional units is not considered as VAT delivery

Belgrade, 06.08.2012.

Minister of Finance has adopted Regulation amending Regulation on establishing the transfer of entire or a part of assets, with or without compensation, or as an investment, which is not considered a supply of goods and services according to the Law on Value Added Tax (Amendment Regulation).


Amendment Regulation was published in "Fig. Gazette of RS " no. 76 of 04.08.2012 and apply from 05.08.2012.

Under Amendment Regulation the delivery of following goods and services are not considered as VAT delivery:
• Transfer of assets in the continuation of the activity of entrepreneurs in the form of a company, in accordance with the Company Law,
• Transfer of assets in the ordinary course of trade, liquidation and bankruptcy, which is a functional unit within economic activities are carried.

In this way, Amendment Regulation introduces two additional grounds for determining assets transfer tax which is not considered as VAT delivery.

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