Companies that are within the VAT system are often confused on how to monitor the sales of goods and services for the last 12 months? This is where we find the dilemma :
Is the period from the beginning of the year observed, to the moment the taxpayer receives 50 million dinars in turnover and services, or is the period observed from the date the taxpayer entered the VAT system (in the last 12 months) until the moment of reaching 50 million in turnover.
Example: Taxpayer entered the VAT system in June 2015. The same taxpayer, in the period from 01 January 2016 to 30 September 2016 has 44 million dinars in trade of goods and services. In this case, is trade of goods and services from June 2015 to May 2016 monitored or, from 01 January 2016 to the date of trade larger than 50 million dinars?
Pursuant to provisions of Article 48 paragraph 3 of the Law on Value Added Tax, for the taxpayer from paragraph 2 of this Article that accomplishes total turnover larger than 50,000,000 dinars in the calendar quarter, the tax period is the calendar month starting from the month of expiration of calendar quarter (in which turnover exceeding 50 million dinars was achieved).
From the stated legal provision we can conclude:
for the VAT taxpayer that submits tax returns, calculates and pays VAT per quarters, that received total turnover over 50,000,000 dinars in the last 12 months, tax period is changed into calendar month in accordance with the law, and this taxpayer submits tax returns, calculates and pays VAT starting from the month upon expiration of the quarter in which total turnover exceeding 50,000,000 dinars was received.
Therefore, the period of 12 months for which total turnover is determined, is set as a period of 12 months backwards from the day of total turnover determination. This means that VAT taxpayer (or his responsible accountant) must constantly monitor the movement of total turnover and determine its amount, based on records kept in accordance with provisions of Article 46 of the Law and Rulebook on the Form Content and Manner of Keeping Records on VAT.
VAT taxpayer submitting tax returns, calculating and paying VAT by quarters has determined that on 28 October of the current year it has received total turnover of goods and services in previous 12 months exceeding 50 million dinars. This taxpayer shall submit the interim tax return for the current tax period by 15 January of the following year, and afterwards tax returns are submitted, VAT is calculated and paid monthly (by 15 February, 15 March, etc.).
Additionally, this VAT taxpayer shall deliver notification to the competent tax authority on the change of the amount of total turnover within five days from such change, that is, by 02 November at the latest.
Parametar je 50 miliona dinara bez uračunatog PDV-a u poslednjih 12 meseci. Pod pretpostavkom da se fakturiše samo promet po opštoj stopi, to je 50 miliona + 20% PDV, ukupno 60 miliona dinara sa PDV-om.