Businessmen gathered around the Serbian Association of Employers continue to insist on changes to the Law on Corporate Tax in order to enable the reuse of the tax credit based on the acquisition of fixed assets.
The proposed change would have a positive impact on new investments, mostly in micro, small and medium-sized companies, because they could more easily modernize equipment and fixed assets in their companies.
This proposal has already been considered and adopted within the Social and Economic Council of the Republic of Serbia in 2018 and forwarded directly to the Ministry of Finance, and most recently as a proposal to the Ministry of Economy for the Strategy for the Development of Small and Medium Enterprises and Entrepreneurs in Serbia (July 2022).
As a reminder, in 2013, the Law on Amendments and Changes to the Law on Corporate Tax (“Official Gazette of RS”, No. 108/2013) prescribed the deletion of Article 48, i.e. the right to use a tax credit based on the acquisition of fixed assets. Even then, the members of the Serbian Association of Employers pointed out the negative consequences of this decision, where the state, instead of stimulating the purchase of new, modern machines, equipment, devices, takes measures that make it difficult to modernize outdated production and service capacities of the economy.