Serbia: Law on deadlines for settling financial debts

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2026

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement


Serbia: Law on deadlines for settling financial debts

vucenovic.jpg

Gordana Vucenovic

The Parliament of Serbia has adopted the new law on deadlines for settling financial debts in commercial transactions. The law came into force on December 25 2012 and will be applicable from March 31 2013.

The main provisions of the law refer to the deadlines of settling the existing debts between companies, and debts between companies on one side and the public sector on the other side:

The legal deadline of settling the existing debts between companies is limited to 60 days. This provision is applicable even in the following cases:

  • When the deadline of settling of debts is not determined by the agreement between parties;

  • When there is no agreement between parties; and

  • When the deadline determined by the agreement is longer than 60 days.

In the following cases, the debtor is exempted from the above described provisions:

  • Payments by instalments;

  • Payments by bills of exchange; and

  • Payments in the agricultural sector.

The legal deadline of settling the existing debts between companies and the public sector:

  • In the event when the debtor is a public institution, the deadline for settlement can not be longer than 45 days;

  • In the event when the debtor is the fund for health insurance of the Republic of Serbia, the deadline can not be longer than 90 days; and

  • In the event the debtor is a company, the deadline can not be longer than 60 days.

In all events, the deadline for settlement of debts starts running with the first day from the date of the receipt of invoice.

Gordana Vucenovic (gordana.vucenovic@eurofast.eu)

Eurofast Global, Belgrade Office/Serbia

Tel: +381 11 3241 484

Website: www.eurofast.eu

more across site & shared bottom lb ros

More from across our site

Ex-EY and Hourani & Partners leader Zain Satardien is using flexible staffing and AI-enabled systems to test a leaner model for specialist legal and tax advice
The big four firm is rightfully prioritising transparency and accountability as it seeks to rebuild from its scandal, but a glaring structural issue remains
A recent hiring flurry has taken the firm’s number of partner appointments this year to 121 and put it on track to hit 160 partner target early
The move brings specialist tax and litigation capability to EY as it seeks to close the gap on Baker McKenzie and Venezuela’s leading local firms
The industry’s response to AI requires an unfamiliar ingredient as firms battle to shape their futures
The ambitious big four challenger firm has also appointed ex-RSM partner Brad Ashton to build out its customs and global trade practice
The big four firm allegedly reviewed backdated documents and signed off on accounts that removed hundreds of millions of dollars of Abramovich’s assets
New Tier 1 entrants and an expanding cohort of established players indicate that law firms are becoming increasingly credible challengers in Europe's TP market
Awards
Leading firms and individuals gathered in Dubai to celebrate standout legal, dealmaking and tax work across the region
Tax authorities want more revenue, have better tools to find it and are increasingly willing to fight for it
Gift this article