CONEO Serbia

Rulebook on the Central Invoice Register published in Serbia

Serbia has officially published the new Rulebook on the Central Invoice Register, which will enter into force on July 1, 2026. 📄

The Rulebook was adopted following recent amendments to the Law on Settlement Deadlines in Commercial Transactions and introduces additional obligations for public sector entities regarding invoice and payment reporting.

📌 What does this mean in practice?
➡️ public sector entities must report payment settlements through the Treasury Administration information system
➡️ payment data must be entered within three working days from the date of settlement
➡️ all overdue and unresolved payment obligations must be updated in the system by July 1, 2026

⚖️ The Rulebook further regulates
➡️ the registration of electronic invoices in the Central Invoice Register
➡️ procedures for recording and settling obligations
➡️ the management and content of the register itself

💡 The introduction of these rules represents another step toward improving transparency, monitoring payment obligations, and strengthening digital financial administration in Serbia.

If you need support in understanding how these changes may impact your invoicing or compliance procedures, feel free to contact CONEO Serbia.

New rules for alternative investment funds in Serbia

Serbia has adopted amendments to the Rulebook on Alternative Investment Funds, introducing stricter requirements for fund operations, investor communication, and advertising. 📊

The new rules aim to strengthen transparency, investor protection, and regulatory oversight in the investment fund sector.

📌 Key changes
➡️ public-offer alternative investment funds must now have a prospectus and key investor information document
➡️ privately offered funds are required to adopt formal operating rules
➡️ all documentation and amendments must be approved by the Securities Commission

⚖️ Stronger investor protection
➡️ prospectuses must clearly explain investment strategies, risks, fees, and investor rights
➡️ investors must be informed about significant changes in fund operations
➡️ investors may request redemption without exit fees within 40 days in certain cases

📢 New advertising requirements
➡️ fund marketing must be clear, accurate, and based on verifiable information
➡️ misleading statements and guaranteed return claims are prohibited
➡️ advertising materials must be submitted to the Securities Commission before publication

💡 The amendments further strengthen Serbia’s capital market framework with a stronger focus on transparency, accountability, and informed investing.

If you need support in understanding how these regulatory changes may impact your investment or compliance processes, feel free to contact CONEO Serbia.

Pension contributions in Serbia: what happens after 65 and beyond 45 years of service?

Under the current Pension and Disability Insurance Law, contribution payments remain mandatory even after the age of 65, as long as an individual continues to work. 📊

At the same time, the calculation of pension benefits is capped at a maximum of 45 years of service, which raises important questions for both employees and employers.

📌 Key points to understand
➡️ contributions must continue after age 65 if employment continues
➡️ only up to 45 years of service is considered for pension calculation
➡️ contributions paid beyond this limit do not increase pension benefits

⚖️ Important limitation
➡️ there is no option to “buy” missing years of service through a one-time payment
➡️ individuals may voluntarily pay contributions, but only on a monthly basis

📊 In practice
➡️ individuals with less than 15 years of service are not eligible for a pension, even if contributions were paid
➡️ those exceeding 45 years of service continue contributing without additional pension benefits
➡️ the system is based on solidarity, meaning refunds of paid contributions are not possible

👉 These rules highlight the importance of long-term planning and understanding how pension contributions impact future entitlements.

If you need support in understanding pension obligations or planning your contributions, feel free to contact CONEO Serbia.

Draft amendments to Serbia’s Personal Income Tax and Social Contributions Laws published

The Ministry of Finance of Serbia has published draft amendments to the Personal Income Tax Law and the Law on Mandatory Social Security Contributions, opening a public consultation until June 21, 2026. 📄

One of the key proposals is the expiration of certain tax and contribution incentives currently available under the existing legislation, effective from January 1, 2027.

📌 Key points
➡️ proposed amendments affect both personal income tax and social security contribution regulations
➡️ selected tax and contribution relief measures are planned to expire from January 1, 2027
➡️ businesses and professionals can submit comments and suggestions during the public consultation period

⚖️ Why it matters
➡️ the proposed changes may impact employment costs and workforce planning
➡️ companies currently benefiting from specific incentives should monitor the legislative process closely
➡️ public consultation provides an opportunity for stakeholders to contribute before the final legislation is adopted

💡 Early assessment of potential changes can help businesses prepare for future tax and payroll implications.

👉 Organisations and employers are encouraged to review the proposed amendments and evaluate their potential impact on operations and employment strategies.

If you need support in understanding how these proposals may affect your business, feel free to contact CONEO Serbia.

Public consultation opened for amendments to Serbia’s Personal Income Tax Law

The Ministry of Finance of Serbia has launched a public consultation on the Draft Law on Amendments to the Personal Income Tax Law. 📄

The consultation period runs from June 1 to June 21, 2026, allowing businesses, professionals, and citizens to submit comments, proposals, and suggestions regarding the proposed changes.

📌 What is important to know?
➡️ comments can be submitted electronically through the e-Konsultacije portal
➡️ proposals may also be sent directly to the Ministry of Finance by email or post
➡️ additional presentations and public discussions will be organized during the consultation period

💡 Public consultations represent an important part of the legislative process, especially for regulations that may impact taxation, employment, compensation structures, and overall business operations.

👉 Companies and individuals affected by personal income tax regulations are encouraged to follow the proposed changes and participate in the consultation process.

If you need support in understanding how future amendments may impact your tax or payroll processes, feel free to contact CONEO Serbia.

Serbia’s GDP grew by 3.2% in the first quarter of 2026

According to the Statistical Office of the Republic of Serbia, Serbia recorded a real GDP growth of 3.2% in Q1 2026 compared to the same period last year. 📊
Quarter-on-quarter growth reached 0.2%, reflecting continued economic activity despite challenges in certain sectors.

📌 Key growth drivers
➡️ wholesale and retail trade, transportation, storage, accommodation, and food services grew by 4.9%
➡️ household consumption increased by 4.8%
➡️ exports of goods and services rose by 4.6%
➡️ government spending and investment activity also recorded growth

⚖️ Sectors facing decline
➡️ construction sector decreased by 5.1%
➡️ industry, water supply, and waste management recorded a slight decline of 0.7%

💡 The latest figures indicate continued economic resilience, supported by consumer spending, services, and export activity, while certain sectors remain under pressure.

👉 GDP trends remain an important indicator for businesses when planning investments, operations, and long-term growth strategies.

If you need support in understanding how economic developments may impact your business, feel free to contact CONEO Serbia.

Central Invoice Register in Serbia becomes fully operational from July 1, 2026

A new Rulebook on the Central Invoice Register (CRF) introduces additional transparency and stricter monitoring of payments involving the public sector in Serbia. 📄

The system, managed by the Treasury Administration, will centralize information on electronic invoices where public sector entities act as debtors, allowing businesses to track payment status and settlement deadlines more efficiently.

📌 What changes in practice?
➡️ public sector entities must update payment information within three working days after settlement
➡️ payment deadlines cannot exceed 45 days when the debtor is a public sector entity and the creditor is a private company
➡️ transactions between two public sector entities cannot exceed a 60-day payment period

💡 Why is this important for businesses?
➡️ improved visibility into invoice payment status
➡️ easier monitoring of overdue receivables
➡️ stronger transparency in public sector payment processes
➡️ clearer evidence in case of delayed payments or disputes

⚖️ Important to note
➡️ CRF does not replace a company’s own accounting archive
➡️ businesses remain responsible for storing invoices, supporting documentation, and proof of delivery in accordance with accounting and tax regulations

👉 Companies working with public sector entities should review payment terms, monitor invoice statuses regularly, and ensure proper digital archiving procedures are in place before the new rules apply.

If you need support in adapting your invoicing or compliance processes, feel free to contact CONEO Serbia.

Draft amendments to Serbia’s Company Law introduce major changes for digitalisation and cross-border business operations

Serbia has published draft amendments to the Company Law, introducing new rules related to digital business operations, cross-border corporate transformations, investor and creditor protection, and gender balance in corporate governance. 📊

The public consultation is open until May 27, while the proposed changes are part of Serbia’s ongoing alignment with EU corporate law standards.

📌 Key proposed changes
➡️ expanded digitalisation of corporate procedures and online company registration
➡️ introduction of rules for cross-border mergers, divisions, and changes of legal form within the EU market
➡️ stronger protection of employees, creditors, and minority shareholders
➡️ mandatory reporting on gender representation in management bodies of large public joint-stock companies

💻 Digital transformation
➡️ companies may be allowed to tokenize ownership interests in line with digital asset regulations
➡️ increased use of electronic documentation and interconnected business registries with EU member states

⚖️ Cross-border operations
➡️ clearer procedures for cross-border mergers, divisions, and corporate restructuring
➡️ additional safeguards for employees and creditors during corporate transformations
➡️ stricter reporting and transparency obligations during restructuring processes

💡 The proposed amendments represent another important step toward harmonising Serbia’s corporate framework with EU regulations and modernising business procedures.

If you need support in understanding how these regulatory changes may impact your company structure or business operations, feel free to contact CONEO Serbia.

New Rulebook on the Central Invoice Register published in Serbia

Serbia has officially published the new Rulebook on the Central Invoice Register, which will enter into force on July 1, 2026. 📄

The Rulebook was adopted following recent amendments to the Law on Settlement Deadlines in Commercial Transactions and introduces additional obligations for public sector entities regarding invoice and payment reporting.

📌 What does this mean in practice?
➡️ public sector entities must report payment settlements through the Treasury Administration information system
➡️ payment data must be entered within three working days from the date of settlement
➡️ all overdue and unresolved payment obligations must be updated in the system by July 1, 2026

⚖️ The Rulebook further regulates
➡️ the registration of electronic invoices in the Central Invoice Register
➡️ procedures for recording and settling obligations
➡️ the management and content of the register itself

💡 The introduction of these rules represents another step toward improving transparency, monitoring payment obligations, and strengthening digital financial administration in Serbia.

If you need support in understanding how these changes may impact your invoicing or compliance procedures, feel free to contact CONEO Serbia.