The Serbian government at its session on 16.11.2012 adopted a set of draft laws aimed at fiscal consolidation of Serbia. The most important draft laws are Law on conditional write-off of interest and tax debt and the Law on the terms of settlement of financial obligations in commercial transactions.
Law on conditional write-off of interest and tax debt provides to entrepreneurs and small and medium-sized legal entities the abilities for tax debt inaction for two years, and large entities for one year, provided they regularly start to settle current tax liabilities, so the tax obligation for November and December 2012 are paid till January 2013. According to provisions of The Draft Law on the terms of settlement obligations in commercial transactions from 31.03.2013 state of Serbia will undertake to pay all bills within the 45th days, while the other undertakings will have obligations to pay for goods and services provided within 60 days.