Ministry of Finance clarifies new model of control of taxes and contributions

Serbian Tax Administration recently announced on its website an explanation of the Ministry of Finance on how to control the payment of taxes and contributions from the commercial banks. Banks will actually only report to the Tax Office transactions related to the payment of wages. The information shall include: the name of the bank that has implemented the payment orders, the payment date, the payer's name, the amount of wages or salaries. These payment orders, include the fee for the agreements and charges for temporary and casual employment.
What is important to know is that the information which the banks will provide are amounts of income tax and social insurance that are paid. In addition, information of payment accounts is provided. Data exchange will be cooperatied in the form and manner specified by the Tax Administration acompanied by the Association of Serbian Banks, is said in explanation.

The purpose of this exchange of information is to enhance business activity and responsibility in terms of taxes and contributions. In the event of inconsistencies in monitoring information, the Tax Administration has the right to take actions within its jurisdiction: office as well as audits in companies. After checking the conditions, if the tax administration submitted for misdemeanor or criminal proceedings, a procedure for regular and forcible collection of related revenue is started.

It is emphasized that according to the Law on Compulsory Social Insurance, if the employer does not pay salaries until  30th in the current month for the previous month, shall not later than the date make calculation and payment of contributions for the previous month, on the lowest monthly contribution base. The employer is then required to pay the salaries for the appropriate month on following way: by paying the difference between the amount already paid and the amount of contributions calculated on the salary that is being paid.




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