On January 1st, 2023, the new Law on Electronic Invoices, which applies to private businesses, entered into force in Serbia. The law brought certain changes that all companies and small businesses are obliged to implement. Namely, since the beginning of the year, all companies are obliged to send electronic invoices via SEF (the designated government’s website), which serves as an exchange point for all e-invoices issued in the country. A client of a certain company can download an e-invoice from SEF and process it, thus completing the circle that is the new way of invoicing. To complete this process, all parties have to have a relevant e-invoicing solution and connection to SEF.
Therefore, all invoices printed on paper, whether in JPG or PDF format, are no longer valid. They were replaced by those in XML form. By automating the business, apart from huge savings in time, storage space and the most obvious, cutting down on paper use, the e-invoice system will reduce costs by up to 80 percent. Considering such savings, small businesses and companies will certainly do their best to avoid being fined for non-compliance with the new law, with penalties ranging from 50,000 to 2,000,000 dinars. That is why companies have to harmonize their business operations with the new Law on Electronic Invoicing.
Any kind of change can pose a challenge and a successful business simply has to adapt to new market trends. In order to go through the transition period as easily as possible, sometimes the best decision is to hire professional support. The FinExpertiza auditing company has experts who will do everything in their power in the shortest possible time to elevate your business to a higher level. FinExperts will provide all the required assistance related to numerous audit, legal and business issues, as well as with the e-invoice system, while companies get used to the new conditions and thus providing them with the opportunity to direct their focus and energy to other segments of their business.
On January 1st, 2023, the new Law on Electronic Invoices, which applies to private businesses, entered into force in Serbia.