Tax News for September 2019

 

GDPR – new law and its implementation


During the last year, the new personal data protection act was enacted. This law is especially significant for those companies which have a lot of clients and do different operations of processing data. Of course, as well as other law, this one lays down very significant punishments for those companies which do not abide by the law. This law was enacted in accordance with the laws of the EU.

Those companies which process a different kind of data and have their main offices in Serbia are covered by this law. It is not important whether or not this processing is done in Serbia. However, there are companies with the main office outside Serbia, but they process certain data about their Serbian clients. These companies are covered by this law in two cases – monitoring the activities of persons if they are done in Serbia and the supply of goods and services.



Serbian economy on top of the table


One of the most famous world magazines 'Financial times' recently published an article with different ranking lists for this year. In that list, our country was on top of the table when it comes to countries with the number of foreign investments. Serbia has 11,92 index points. This is an increase in 1,33 index points when compared to 2018. This is a result of the increase in direct foreign investments when compared to 2017 and 2018. The most important departments for this growth are automobile components industry, food, tobacco, textile and real estate industry.

One of the neighbouring countries is on the second place. Montenegro has the index 11, 49 points and with that, it left behind some very developed economies like: UAE, Singapore, Hong Kong, Great Britain, Poland, Hungary, etc.

 


New mobile phone application for taxpayers


My LPA application for mobile phones is a thing which can help taxpayers to check the status of their property tax liability. This application can be downloaded for free and has its versions for iOS and Android systems.

You can check the status of your property tax liability by logging in with your username and password. A local tax administrator is a person who gives you this data. But there is a difference when individuals and legal entities check their status. Legal entities have to contact local tax administration by the address of its main office, while individuals do that by the address where they live.

 

 

The new Law on Lobbying and its implementation


The new Law on Lobbying is passed and its applications start on 14 August of this year. The most important tasks of this law are to regulate the rules of lobbying and its activities and to regulate the records and registers.

Lobbying is an activity which can be done by an individual or a legal entity. They lust be registered as lobbyists. However, there is another category known as 'unregistered lobbyist' – he is not registered as a lobbyist, but it is considered as a legal representative or it is employed by the company which is considered as a lobbying beneficiary or represents the interests of a company or an association whose member is a lobbying beneficiary. This law also regulates the fact that not only the Serbian citizens can be lobbyists. Citizens of other countries, as well as foreign legal person, can also have this role. The rule is that they must be registered as a lobbyist in their country and the national register. This is checked by the National Anti- Corruption Agency. Also, all the persons who want to become lobbyists must attend the training program and pass the knowledge test.
The thing which is common for all the lobbyist is that the must submit an annual report by 31 of January of the next year.