Always Be On the Safe Side!

Any business activity You undertake leaves a certain trace, as well as the consequences. It is assumed that You will conduct business in accordance with the legislation of the Republic of Serbia. If some of the laws have been violated, You are exposed to the risk of paying extraordinarily high fines. Not to mention the inconveniences and the loss of time. This applies to every segment of the business, but mostly relates to accounting and taxation. The state is extremely sensitive when it comes to public revenue, which implies zero tolerance towards offenders. Legislative framework also provide criminal responsibility for actors.

For the sake of illustration, let’s quote the parts of Article 177 of the Law on Tax Procedure and Tax Administration (“Official Gazette of RS”, No. 80/2002, 84/2002 – E.g. 23/2003 – cf., 70/2003, 55 / 2004, 61/2005, 85/2005 – other law, 62/2006 – other law, 63/2006 – E.g. of the law, 61/2007, 20/2009, 72/2009 – other law, 53 / 2010, 101/2011, 2/2012, 93/2012, 47/2013, 108/2013, 68/2014, 105/2014, 91/2015 – authentic interpretation, 112/2015, 15/2016, 108 / 2016 and 30/2018):

Failure to submit tax returns, failure to submit tax returns by the due date, failure to calculate tax, failure to pay tax or failure to pay tax by the due date

Article 177

A taxpayer – a legal entity or entrepreneur who does not file a tax return, does not calculate and does not pay taxes, shall be fined for a misdemeanor with a fine ranging from 30% to 100% of the amount of tax due in the procedure of tax control, and not less than 500,000 RSD  for legal entities, or RSD 100,000 for entrepreneurs.

A taxpayer – a legal entity or entrepreneur who does not file a tax return and who calculates but does not pay the tax, shall be fined for a misdemeanor with a fine ranging from 20% to 75% of the amount of tax due in the tax audit, and not less than 400,000 RSD for a legal entity, or 80,000 RSD for entrepreneurs.

A taxpayer – a legal entity that does not file tax returns, but pays the tax within the legal deadline, will be fined for a misdemeanor in the amount of 100,000 to 2,000,000 RSD, while the entrepreneur shall be fined from 50,000 to 500,000 RSD.

Please be aware of the fact that this is just a part of Article 177. This area is defined by the numerous laws of the Republic of Serbia and every violation of the Law has consequences.

To avoid these risks and disadvantages, You should carefully select associates. Often, one person alone, is not able to handle all changes in tax legislation, nor can an individual own knowledge of all the specifics of the job. Under these circumstances, the cooperation with the agency, which is provided by a team of experts and which has all the necessary resources to monitor current events in this field, is an ideal solution – contact us today and schedule an appointment.