On April 16, 2020, the Government of the Republic of Serbia adopted the Regulation on delaying the deadlines for holding ordinary session of the general meeting of company and for submission of annual and consolidated financial statements of companies, cooperatives, other legal entities and entrepreneurs, as well as deadlines for filing the tax returns for corporate income tax and self-employment tax, the validity of licenses of certified auditors and licenses for assessing the value of real estate that expire during the state of emergency resulted by the COVID-19 disease caused by the SARS-CoV-2 virus.

An overview of the new deadlines is provided in the table below.

ACTION TO BE TAKEN IN ACCORDANCE WITH THE RESPECTIVE LAW	DEADLINE counting from the date of termination of the state of emergency
Holding the annual session of the general meeting of company from Article 364 of the Law on Companies (JSC), as well as from Article 201 of the same law that apply accordingly (LLC)	90 days
Submission of annual reports, i.e. annual financial statements with the auditor’s report of all taxpayers whose reporting is regulated by the Law on the Capital Market, i.e. the Law on Investment Funds or the Law on Open Investment Funds with a Public Offering	60 days
Submission to the SBRA of the regular annual financial statements for the reporting year for public disclosure by 30 June at the latest (Article 33, paragraph 1 of the Law on Accounting). This deadline also applies to legal entities that have a business year other than the calendar year, provided that the deadline for submission of the financial statements of those legal entities expires during a state of emergency.	90 days
Submission to the SBRA of consolidated annual financial statements for the reporting year for public disclosure by 31 July at the latest (Article 33, paragraph 3 of the Law on Accounting)	120 days
Submission to the SBRA of the extraordinary financial statements for public disclosure (Article 33, paragraph 4 of the Law on Accounting)	30 days (provided that the deadline for submission of the extraordinary financial statements expires during the state of emergency)
Filing of corporate income tax return for taxpayers whose tax period is the same as the calendar year	90 days
Filing of corporate income tax return for taxpayers whose tax period is different than the calendar year	120 days
Filing of tax return and tax balance by the taxpayers of self-employed income tax that are keeping business books in accordance with Article 43 paragraph 2 and 3 of the Personal Income Tax Law	90 days
Deadlines from Article 7 of the Law on Audit (validity and procedure of extension of licenses of certified auditors) which expire during the state of emergency	30 days
Deadlines from Article 11 of the Law on Real Estate Appraisers (validity and procedure for renewal of licenses for valuation of real estate) which expire during the state of emergency and 30 days from the date of termination of the state of emergency	60 days

This article is to be considered as exclusively informative, with no intention to provide legal advice.
If you should need additional information, please contact us directly.