The tax period in Serbia is the calendar year. However, entities have a possibility to opt for a different tax period other than the calendar year (subject to the approval of the Ministry of Finance), but still 12-months long. Once approved, such tax period must be applied for at least five years.
CIT returns, together with all supporting documents (e.g. tax depreciation and tax credit forms), must be filed with the tax authorities not later than 180 days after expiration of the tax year (e.g. 30 June).
A newly established company needs to register with the tax authorities within 15 days of registration with the Serbian Business Registry.
Payment of tax
CIT is payable monthly in advance instalments by the 15th day of the following month for the prior calendar month. The amount of payable advances is determined on the basis of a company's CIT calculation for the previous year.
The due date for final settlement of CIT liability is the date of filing the annual tax return.
Tax audit process
The tax authorities may undertake an unlimited number of tax audits in respect of the same taxes within a reviewed period. In principle, re-performing of an audit of the same tax within a reviewed period is based on existence of new facts that were previously unavailable to the tax authorities.
Statute of limitations
The statute of limitations period for assessment of tax liabilities is five years from the year in which tax should have been assessed. The statute of limitations for collection of tax liabilities is five years from the year in which tax was due for payment. This is with the exception of pension insurance contributions, which do not become statute barred.
The statute of limitations commences from 1 January of the year following the year in which the tax return/liability was due.
Topics of focus for tax authorities
Historically, audits by the tax authority have been focused primarily on VAT, PIT, and social security contributions assessment.