A foreign company branch office is a separate organizational unit of a company in the territory of the Republic of Serbia through which the company performs activity in accordance with the law.
A foreign legal entity may permanently perform activities on the territory of the Republic of Serbia through a branch established and registered following the regulations of the Republic of Serbia. The following rules regulate the registration and operation of a component of a foreign legal entity:
- Companies Act
- The Law on the Registration Procedure in the Business Registers Agency
- Foreign Trade Act
- Law on Foreign Currency Transaction
- Law on Payment Operations
- Law on Accounting
- other bylaws adopted based on the said laws.
Continue reading Specifics of branch operations in Serbia
According to the provisions of Article 7, paragraph 1. of the Law on Property Taxes, the basis of property tax for the immovable property of a taxpayer who keeps business books and whose value is reported in the business books according to the fair value method following international accounting standards (IAS), i.e. international financial reporting standards (IFRS) and adopted accounting policies is the fair value stated on the last day of the taxpayer’s business year in the current year.
According to the opinion of the Ministry of Finance, no. 011-00-00698/2021-04 from July 1, 2021. for the fair value of the real estate shown in the taxpayer’s business books on the last day of the taxpayer’s business year in the year preceding the year for which the property tax is determined and paid to form the basis of the property tax, all prescribed conditions must be met:
- that the specific obligee has the status of an obligee who keeps business books under the Law
- that the taxpayer reports the value of the real estate in the business books using the fair value method under international accounting standards (IAS), i.e. international financial reporting standards (IFRS) and adopted accounting policies, as well as
- that the value of the real estate in the business books of the taxpayer was stated following IAS, i.e. IFRS and adopted accounting policies on the last day of the business year of the taxpayer in the current year (i.e. the year preceding the year for which the tax liability is determined.
Continue reading Fair value of real estates declared in business books as property tax base for micro legal entities
Status and position of the entrepreneur and the company is governed by the provisions of the Law on Companies.
The entrepreneur, according to the provisions of Article 83 of the Law on Companies, is definied as a natural person with full capacity who is registered in the Business Entities Register and is engaged in a business activity for the purpose of profit generation.
Also the entrepreneur in terms of the Law on Companies, shall be a natural person registered with a special register who carries on a professional activity governed by a special regulation, if this is provided by such regulation. Continue reading Entrepreneur or company