Serbia
Overview of CbC reporting requirements
First reporting fiscal year: Commencing on or after 1 January 2020
Consolidated group revenue threshold: EUR 750 million
Filing deadline: 12 months following the end of the reporting fiscal year
The domestic legal and administrative framework
Serbia’s 2020/2021 review recommended that Serbia take steps to implement legislation or guidance to set out the requirements as to the form and content of a CbC report. This guidance has now been published and the recommendation is therefore removed.
Serbia’s domestic legal and administrative framework meets all other terms of reference.
The exchange of information framework
Serbia has no bilateral relationships in place for the exchange of CbC reports nor processes to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework.
It is recommended that Serbia take steps to have qualifying competent authority agreements in effect with jurisdictions of the Inclusive Framework that meet the confidentiality, consistency and appropriate use conditions and with which Serbia has an international exchange of information agreement in effect that allows for the automatic exchange of tax information. This recommendation remains in place since the 2018/2019 peer review.
It is recommended that Serbia take steps to implement the necessary processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework. This recommendation remains in place since the 2018/2019 peer review.
Appropriate use of CbC reports
Serbia does not yet have controls in place to ensure the appropriate use of CbC reports.
It is recommended that Serbia take steps to ensure that the appropriate use condition is met ahead of the first exchanges of information. This recommendation remains in place since the 2018/2019 peer review.