- VAT was entered on an invoice drawn up in accordance with the VAT Act and the invoice was paid;
- The requested refund of VAT exceeds €200 in RSD equivalent, calculated according to the average exchange rate of the National Bank of Serbia valid on the day of the submission of the VAT refund request;
- The conditions, under which a taxable person established in Serbia has the right to deduct the VAT on supply on such movable goods and services, are met;
- A taxable person established outside of Serbia carries out in Serbia only transport of goods exempted from VAT (transport related to the import of goods, transport related to free trade zones, transport related to the export of goods) or international passenger bus transport subject to VAT on the section carried out in Serbia, and no other taxable activities;
- There is reciprocity between Serbia and the state of establishment of the foreign taxable person.
Reciprocity exists between Serbia and the following countries:
- Bosnia & Herzegovina
- Croatia (partially – only on movable goods and services purchased in connection with fairs)
- FYR Macedonia
- The Netherlands
Accordingly, every taxable person established in one of the above listed countries can apply for the refund of VAT in Serbia.
The VAT refund request is submitted once a year, by June 30, for the previous year. Along with the VAT refund request, the following documentation must be submitted in accordance with the protocol on the procedure for the VAT refund ('the protocol'):
- The certificate of VAT registration or registration for another form of consumption tax, issued by the tax authority of the state where the taxable person is established (original and certified translation into Serbian); and
- Originals and copies of paid invoices for purchased movable goods and services, based on which the VAT was calculated and paid.
Please note that, in practice, the Serbian Tax Administration regularly requests additional documentation not listed in the VAT Act or the protocol.
Upon receipt of the VAT refund request, the Tax Administration will examine whether the conditions for the VAT refund are met, issue a decision within 30 days from the receipt of the request and send it to the taxable person along with the original invoices. The VAT is refunded within 15 days of the receipt of the decision by the taxable person.
VAT is refunded in the currency of the state where the taxable person is established by converting the RSD amount of the refund into the foreign currency according to the selling exchange rate of the National Bank of Serbia valid on the day of the refund. The conversion expenses are deducted from the refunded VAT. The refund can be paid to the account of the taxable person in Serbia and abroad.