Register of Financial Statements probably from January 15th - submission of reports possible only in BRA

- The Register of Financial Statements and Data on Solvency of Legal Entities and Entrepreneurs should become operational around January 15th - it was announced by the Business Registers Agency (BRA), which is going to become the only institution to accept annual financial statements in 2010.

- Annual financial statements of legal entities will not be submitted to both National Bank of Serbia (NBS) and the Tax Administration any more, and the expected effect is minimum 1m EUR worth of saving in the economy sector since the fee will not have to be paid to several different institutions - said Zvonko Obradović, the CEO of BRA.

As he pointed out, "the Register will become operational as soon as sublegal acts are put in effect and the Law on Amendments and Supplements to the Accounting and Auditing Law is adopted, which should happen in mid-January".

- Serbia will, thus, cease to be the last country in Europe where financial statements are submitted to several different addresses - said Obradović.

NBS announced that BRA would take over from the National Bank the existing financial statements and solvency database, as well as the relevant methodology, state-of-the-art information technology and specialist staff.

Financial and status data brought together, the Agency will boast a single information base on all domestic legal entities and entrepreneurs, making the complete and up-to-date information accessible in one place.

The new Agency services are expected to become operational from January 15th, 2010. Detailed information regarding the submission and processing of financial statements, as well as regarding the provision of data from those statements and solvency-related services, will be available through the website of BRA - www.apr.gov.rs, link Financial Statements and Solvency.

Agencija za privredne registre Beograd

Narodna banka Srbije Beograd

Poreska uprava Srbije

BRA

NBS

Zvonko Obradović