With the rapid development of information technologies, a huge shift occurred in business processes from manual systems to electronic system. In this respect e-invoice applications rapidly evolved, and the governments started to implement e-invoicing projects covering all business transactions between governments and businesses. Like many European countries, Serbia has announced the introduction of Law on Electronic Invoice (Article 24) at the beginning of 2022. The e-invoicing system is called as “Sistem e-Facture (SEF)” and it uses the well-known clearance model (as used in Italy). The law explains several aspects related with creation, transition, receiving, processing, and archiving of e-invoices. In this system both receiver and sender are under obligation, and it covers the transactions between business to government (B2G), government to government (G2G), government to business (G2B), and business to business (B2B) transactions.
The law covers the non-residents also that have local fiscal representatives. All eligible taxpayers including customers or suppliers should register to the online electronic e-invoice system. They can submit the e-invoices to the government portal manually or using the API services of the government portal. The companies that do not satisfy the requirements of the electronic invoicing system will subject to penalties up to 17,000 Euros.
The project is planned to be executed in three phases: In phase 1, private sector entities must send e-invoices to public authorities (B2G transactions) and the public authorities obliged to receive and achieve the incoming e-invoices. On the other hand, public authorities obliged to send and receive e-invoices from other public authorities (G2G transactions) starting from 01 May 2022. The second phase starts from 01 July 2022 in which the public authorities will be required to send e-invoices to private sector entities and private sector entities will be required to receive e-invoices. In the final phase, all business transactions (including B2B) will be conducted using e-invoicing system.