Article

E-invoicing in Serbia

1 April 2022

E-invoicing in Serbia will become mandatory from January 1, 2022.

E-invoicing in Serbia will become mandatory from January 1, 2022. This is after the Serbian parliament adopted the Accounting and Auditing Law that requires invoices to be prepared and submitted to entrepreneurs and legal entities in electronic form.

What Does Adoption of e-Invoicing Mean for Serbian Businesses?

The implementation of electronic invoicing is good news for the private and public organizations in Serbia.

Here’s how e-invoicing will benefit Serbian businesses:

  • Faster payment and improved cash flow.
  • Better account reconciliation.
  • Reduced overhead costs.
  • Fewer disputes and rejected invoices.
  • Enhanced customer satisfaction.

What Do Serbian Businesses Need to Do to Implement e-Invoicing?

To be part of the revolution that will change how businesses and organizations in Serbia transact, all you need to do is team up with a PEPPOL-certified and accredited Access Point Provider such as Unimaze to configure your accounting system and connect you to the electronic invoicing network.

The Path to Electronic Invoicing in Serbia

2019

In 2019, Serbian authorities announced that the nation is gearing toward digitization.

More specifically, the government pronounced its intention to make business processes automatic and electronic.

The idea was to eliminate the issuance of paper invoices and introduce e-invoices, and by extension, streamline the creation and sending of invoices.

On top of that, e-invoicing would cut the costs incurred through the administration and archiving of invoices. Plus, the government wanted to ensure better access to the business activities of companies.

The national assembly proposed a bill that mandates all taxpayers in the procurement division to issue and send their invoices electronic form by mid-2021.

That way, the state would set the pace for private businesses and companies to prepare for e-invoicing and procure the required resources to adopt e-invoicing.

2021

In January 2021, the Ministry of Finance released a guideline stipulating the electronic invoicing framework in Serbia.

Meanwhile, the authorities allowed continued issuance of paper invoices while urging businesses to adopt e-invoicing at the earliest opportunity.

The following requisites regulate the issuance and receipt of electronic invoices in Serbia, pending the e-invoice law’s enactment from 1st January 2022.

  • You can issue an electronic invoice if the recipient gives his/her consent.
  • Electronic invoices’ issuance is mandatory for some invoices, such as those issued during a public procurement process.
  • An e-invoice must abide by specific rules for electronic documentation.

It is not clear how the recipient must give consent, so any medium of business commutation is applicable for this purpose.

What Should You Look for in an Access Point Provider in Serbia?

You need to partner with an Access Point Provider to roll out e-invoicing in your business, organization, or company in Serbia.

In other words, talking to an Access Point Provider is your first step towards making your organization electronic invoicing compliant.

Here’s how to choose the best e-invoicing solution in Serbia

Work with a Provider on the PEPPOL Network

This is a big one.

Just because an e-invoice solution says it can help you get started with electronic invoicing doesn’t necessarily mean it’s on the PEPPOL network.

Some providers offer a proprietary e-invoicing format that only allows customers on their platform to exchange e-invoices.

If a service doesn’t say it’s PEPPOL certified, there’s a chance it could be a proprietary process, and that might not be what you need to realize the full benefits of electronic invoicing.

Choose a Reasonably Priced Provider

If you’re a company with relatively low volume sending requirements, some providers offer a free service up to a specific limit.

For instance, Unimaze offers a free e-invoice generator that enables you to create customized, eye-catching invoices in a few clicks.

The free services are an excellent starting point to allow you to get started immediately, albeit for the short term.

Scalability, pricing, and integration methods for higher volume should be an essential factor to consider when choosing the best e-invoicing access point provider in Serbia.

Partner With an Accredited Provider in this Region

First of all, you’re better off with a PEPPOL certified electronic invoicing provider.

Further, make sure you’re working with a solution allowed by Serbian authorities to provide e-invoicing in the country.

You want to partner with a provider that has passed the accreditation processes, such as processing local invoices and accepting local jurisdiction.

Choose an Experienced e-Invoicing Solution

Sure, the process of accreditation revolves around showing technical capacity and security compliance.

Even so, there are accredited providers without a track record demonstrating that their solution works in a commercial setting or one that requires scaling with demand.

Some of the red flags that suggest inexperience include;

  • Delay in sending test invoices.
  • Over-reliance on SFTP.
  • Using email for invoice ingestion and distribution.

Unimaze is a PEPPOL Certified and Accredited e-Invoicing Access Point Provider in Serbia

As issuance of electronic invoices becomes mandatory in Serbia, it makes perfect sense to partner with an experienced Access Point Provider to help you transition from paper invoices.

And, you don’t have to be caught in the last-minute rush to beat the 1st January 2022 to become e-invoice compliant.

Unimaze can help you get started right away and support you through the implementation process.

Your ERP system doesn’t support e-invoicing? Not a problem!

We can reorient your accounting system to enable you to send and receive e-invoices. Besides, we provide an all-inclusive solution with different EDI, compliant B2B electronic invoicing, and compliance capabilities at both local and international levels.

Plus, we’re a PEPPOL certified access point provider.

Contact Unimaze support to get started with e-invoicing in Serbia today.

FAQ’s

  • How do you make an invoice in Serbia, and what should it contain?

Serbian authorities require that all legal entities and individuals in the VAT system should issue an appropriate invoice, with all the essential elements.

The standard features of an invoice in Serbia according to the provisions of Article 42 of the VAT Act are:

  • Name, address
  • Name, address, and tax ID of the obligor – the issuer of the receipt
  • Name, address, and tax ID of the obligor – the recipient of the receipt
  • Note that a payment system is applied for goods and services traffic
  • VAT amount calculated on the base
  • Amount of base
  • Place and date of issue and a serial number of the receipt
  • The type and quantity of goods delivered or the type and scope of services
  • The applicable tax rate
  • A note on the provision of this law based on which VAT is not calculated
  • Date of turnover of the goods and services and amount of advance payments
  • How do I generate an invoice?

To create an invoice, you’ll need to design a professional-looking document that stipulates the services you complete for your customers.

Here’s how to do it:

  • Design an invoice header containing your business information.
  • Include your customer’s contact details.
  • Provide invoice information.
  • Specify your payment terms.
  • Include an itemised list of goods or services.
  • List any applicable taxes.
  • Add notes, if necessary.

Creating an invoice can be tedious and time-consuming. But, you don’t have to go through the rigorous process of designing a professional-looking invoice. The Unimaze e-invoice generator can help you create beautiful invoices in minutes.

  • What are the elements for an invoice issued by the VAT proxy in Serbia?

A VAT payer in Serbia must issue a receipt for every traffic of goods and services. This obligation also applies to tax representatives of a foreign nation plying its trade in the country.

Any invoice issued by the VAT rep must contain the following information:

  • The place and date of issuing and ordinal number of receipt
  • The title, address, and TIN of taxpayer – the issuer of receipt
  • The type and quantity (amount) of delivered goods or kind and scope of services
  • The title, address, and TIN of taxpayer – the recipient of receipt
  • The date of the traffic of goods and services and the amount of advanced payments
  • The applied tax rate
  • The annotation about the article of the Law according to which the VAT wasn’t accounted
  • The amount of tax basis
  • The annotation that the system of payment is employed for the traffic of goods and services
  • The amount of VAT added to the basis

On top of that, the receipt issued by the tax rep of the foreign country firm must contain the following information the tax representative:

  • The title or name and surname of representative
  • The TIN (if a company is VAT representative), or UPIN if he is a physical person
  • The address of headquarter if it is a legal entity or the address of residence (physical person)

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