EU membership

EU draft VAT law for Serbia outlines exemptions and intra-EU trade changes

Serbia’s planned VAT overhaul tied to future European Union accession would be among the largest tax-system changes since VAT was introduced nearly two decades ago. A draft VAT law prepared for implementation upon accession sets out exemptions and special regimes covering businesses, financial institutions, public services, agriculture and cross-border trade. The proposal aims to align Serbia’s VAT framework with European Union directives rather than focus on altering VAT rates. It would change how specific transactions are taxed and how companies…