Foreigners have until June 30 to submit VAT refund requests

Foreign taxable persons who have paid VAT in Serbia, Croatia, Montenegro, BiH and FYR Macedonia during 2014, have the right to VAT refund subject to certain conditions.

The deadline for the submission of the 2014 VAT refund request is the same in all countries- June 1, 2015, except for BiH, where the foreign taxable persons have to submit the refund requests not later than 14 months from the date of the invoice, in which the requested VAT is entered, the consulting company Eurofast announces and adds that the the VAT refund ensures avoidance of double taxation.

As far as Serbia is concerned, Eurofast specifies that our country refunds VAT to taxable persons which have established their business in the following countries: the Netherlands, Slovakia, Croatia, Denmark, Austria, Bosnia and Herzegovina, Belgium, Montenegro, FYR Macedonia, Slovenia, Germany and the UK.

According to Eurofast, appointing a local tax consultant to assist in the VAT refund procedure in Serbia is highly recommendable .

Once the VAT refund is granted by the Serbian Tax Administration, the VAT is refunded in the currency of the State of residence of the applicant, to a bank account either in Serbia or abroad. The deadline for the submission of the 2014 VAT refund request is June 30, 2015, Eurofast underlines.