Amendments to the Regulations on Sales and Excise tax payment

On April 3rd 2003, the Minister of Finance and Economy proclaimed the Regulation on amendments to effective regulations on the manner of sales taxes calculation and payment and on the manner and contents of related record keeping, as well as a Regulation on amendments to the regulations on the manner of excise tax calculation and payment, both published on April 4th 2003 in the “Official Gazette of the Republic of Serbia” No. 36.

The cumulative tax return calculation of the sales and excise tax, is to be submitted on newly issued forms, at last by April 20th 2003.

The most significant modifications of the regulations consist in the following:

* concerning the sales taxes:

1. A full tax payment exemption – obtainable upon a tax decision of the competent fiscal authority representative body – is provided for all products received in the name of “humanitarian aid”;

2. The Form OPP, changes the name into Form OAPP, while the Form POPP (mentioned in Paragraph 6. of the same Article) is now entitled Form POAPP;
3. As of January 1st 2003, all the Forms contain the new income tax payment bank accounts;
4. Besides the two mentioned Forms, a new Form has been introduced – The Review of all advance products and services sales taxes payments for the past fifteen days, as well as quarterly enclosures (1 to 4) – also representing payments on a fifteen days basis record.

* concerning the excise tax calculation and payment:

1. The Form AK, changes the name into Form OAK;
2. As of January 1st 2003, all forms contain the income tax payment accounts, sorted by the excise tax type;

3. A new Form has been introduced – The Review of all advance excise taxes payments for the past fifteen days, as well as quarterly enclosures (1 to 4) – also representing payments on a fifteen days basis record.