VAT for unsold goods - Government of Serbia is preparing new taxes for traders

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All traders will soon pay VAT of 20% for goods they returned since they did not sell it, Experts do not expect higher prices but they announce higher budget, Blic reports.

The Government of Serbia has been for some time now preparing for new tax retail and wholesale traders will pay. As Blic finds out, the Ministry of Finance has seriously been considering the option of VAT for goods which traders return since they did not sell it i.e. measure which hypermarkets will feel the most.

- Goods in shops stays for a month, two, even half of the year. Some 20 percent of good on the average traders cannot sell and they return it to the ones they bought it from. So far it has not been taken into consideration but now it will which means that goods traders return will be taxed– the source of Blic from the Government of Serbia says and adds that new tax will not refer to bad goods, i.e. goods with limited expiry date.

It has been estimated that thanks to VAT for returned goods at least EUR 400 m will go to budget per year. This is let’s say, the amount of savings for Serbia based on pensions and salaries decrease in public sector in November last year. Experts think that consumers will not feel the hit and that prices should not increase.