On 09.18.2013, at the premises of Chamber of Commerce in Belgrade, at Knez Milos 12, an event was held on "A new system of tax and contribution withholding tax." The meeting was attended not only by a number of IT experts from Belgrade, such as ours, the SVM Syntegra company, but also by other ERP developing solutions experts from all around Serbia.

The speeches were given by Sasha Dulic - representative of the IT sector of tax administration, and by Vesna Šibalija – IRS control sector.

These extensive changes related to consolidated payment of taxes and contributions are definitely coming into force on 01.01.2014. year.

The aim of this action is to integrate tax and contribution tax on one invoice and reduce costs of taxpayers and the tax administration. This way a large number of forms would be put out of use and replaced by a single PPP PD form that would appear only in electronic form.

PPP PD - ie. the individual tax return for taxes and contributions is the form that displays the status of each employee’s tax information, withholding tax and contributions, as well as detailed information about the number of working hours and the beneficial years of work. The ultimate goal is to put out of use the annual tax returns PPP and later the M4 form, which depends on the cooperation of Pension Fund and the Tax Administration.

So:

• The tax return will be filed only in electronic form
• After the successful receipt, the system sends a unique reference number for the payment.
• All payments of taxes and contributions are made to a single account - with the obtained reference number.
• The tax return will be submitted prior to any payment whether the income is from or outside employment