The future ruling coalition SPS-SNS-URS on 10.07.2012. signed a Coalition Agreement in order to form the new Government of the Republic of Serbia.
From the perspective of tax legislation Coalition Agreement provides the implementation of the following changes:
- The abolition of all republican levies introduced with non-tax legislation (so called: parafiscal levies);
- Elimination of unnecessary local taxes and fees;
- Small and medium-sized companies will be able to pay VAT only when receiving payment for the delivered goods/services, not when they invoice them;
- Increase the threshold required for the entry of small enterprises in the VAT system;
- For construction companies it will be provided that the investor is responsible for the VAT liability of the contractor, if not paying the work performed within the agreed timeframe.