Serbia: Decree on conditions required for deferment of tax debt payment
The government of Republic of Serbia has issued a decree detailing the conditions under which a deferment of tax debt payment may be requested by taxpayers. The decree has been published in Official Gazette no.183 on December 6 2013 and is effective as of December 14 2013. The decree prescribes detailed conditions as related to article 73, paragraph 1 of the Law on Tax Procedure and Tax Administration, which stipulates the conditions under which a taxpayer can delay the payment of tax debt.
The payment of debt towards the tax authorities can be delayed by the taxpayer if the debt amount is lower than:
For physical persons: 10% of the tax revenue for the year preceding the year when the taxpayer submits a request for deferment;
For entrepreneurs and small entities: 5% of the total annual income reported in the last financial statement; and
For medium and large enterprises: 5% of the working capital reported in the last financial statement.
The request to delay tax payment has to be submitted by the taxpayer to the competent tax office. In addition to the request for deferment of tax payment, the taxpayer is also liable to submitting proof of fulfilling the conditions required to delay payment (defined above) and collaterals.
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