According to the Article 2, Point 9 of the Law on due dates for monetary obligations in commercial transactions (in following text: Law), the Central register of invoices is the system (database) which is founded and managed by Ministry of Finance – Treasury, in which invoices and other requests for payment, published by creditors in commercial transactions between public sector and commercial entities or between public sector subjects, in which subjects of public sector are debtors, are registered.
Creditors are obliged to register invoices and other requests for payment towards public sector into the Central register of invoices. Each invoice and request for payment have their unique ID number. Invoices and other requests for payment creditors send to debtors 3 days from their registration in Central register of invoices.
According to the Article 12, Paragraph 6 of the Law, monetary fine from 100.000 RSD to 2.000.000 RSD will be charged to the creditor who does not register its invoice or other request for payment in the Central register of invoices. According to the Article 12, Paragraph 7 of the Law monetary fine from 5.000 RSD to 150.000 RSD will be charged to the responsible person in public sector subject, in case monetary obligation from invoice and other request for payment not registered in the Central register of invoices is settled.
The implementation is planned to start on the 01/03/2018.
For additional information please free to contact our consulting team.