- Does a company in Serbia have to have an accountant?
- The law does not require you to hire one, but a DOO keeps double-entry books under Serbian standards, and returns are filed through ePorezi and signed with a qualified electronic signature. In practice the books are kept by an accounting agency acting under a power of attorney. The exception is a sole trader on the flat-rate tax: a revenue ledger (KPO) and a monthly payment under the tax office's decision are enough.
- When does a company have to register for PDV?
- Above a turnover of 8,000,000 RSD over the preceding 12 months. Below the threshold registration is voluntary: it pays off for companies that work with PDV payers or export services, since it lets them recover input tax on rent, equipment and services. The standard rate is 20%, the reduced rate 10%; the export of services to foreign companies is as a rule not subject to Serbian PDV.
- Which returns does a DOO file, and when?
- The corporate income tax advance and, for PDV payers, the PDV return by the 15th; the PPP-PD payroll tax and contributions calculation before every salary payment; the annual financial statements to the APR by 31 March; the annual corporate income tax return (PDP) within 180 days of the end of the year. A sole trader on actual income follows a similar calendar with an annual return by 15 April.
- What is SEF, and is it mandatory for my company?
- The electronic invoicing system (Sistem e-Faktura) is mandatory for PDV payers and for any dealings with the public sector: an invoice between two Serbian PDV payers exists only in SEF. A company outside PDV that works only with foreign clients has no such obligation, and invoices to foreign customers do not go through SEF; they are issued the usual way and recorded in the books.
- How much does a company pay on an employee's or director's salary?
- Income tax of 10% and employee contributions of 19.9% are withheld from the gross; on top of the gross the employer pays contributions of 15.15%. For an employee to receive about €1,000 net, the company spends roughly €1,600. The director needs a formal basis — an employment contract or a contract on the director's rights and duties; the company pays contributions for the director in any case unless the director is insured on another basis.
- What happens if a return or report is filed late?
- Late-payment interest at the National Bank of Serbia reference rate plus 10 percentage points a year, and administrative fines for both the company and the responsible person. A company that fails to file its financial statements with the APR two years in a row is placed into compulsory liquidation. A voluntary correction before an audit begins is taken into account when the fine is set.