Page 57 - Central and Eastern European Transfer Pricing Review

Serbia | 57

Special considerations The Ministry of Finance is expected May a taxpayer go to competent
to publish a list of jurisdictions with a authority before paying tax?
Are secret comparables used by tax preferential tax system during 2013.
authorities? No formal rules.
No. Are year-end transfer pricing
adjustments permitted? Advance pricing
Is there a preference, or requirement, No. arrangements
by the tax authorities for local
comparables in a benchmarking set? Other unique attributes? What APA options are available,
No, although use of local comparables Not applicable. if any?
may be viewed as an advantage. No APAs or advance rulings of any kind.

Do tax authorities have Other recent Is there a fling fee for APAs?
requirements or preferences developments Not applicable.
regarding databases for As stated, detailed regulations regarding
comparables? transfer pricing have been adopted and Does the tax authority publish APA
No. enter into force from 1 January 2013. The data either in the form of an annual
regulations introduce requirements with report or through the disclosure of
What level of interaction do tax respect to preparing transfer pricing data in public forums?
authorities have with customs documentation and introduce the Not applicable.
authorities? application and reliance on the OECD
The level of interaction between tax and Guidelines. As a result, a signifcant Please provide some information
customs authorities with regards to VAT increase in activity is expected from the on how successful the APA program
is high. However, it is not possible to tax authorities regarding transfer pricing. is and whether there are any known
estimate the level of interaction between diffculties?
these authorities regarding transfer Tax treaty/double tax Not applicable.
pricing.
resolution Language
Are management fees deductible? What is the extent of the double tax
Generally, yes. Please note that non- treaty network? In which language or languages
documented costs are non-deductible Minimal. can documentation be fled?
as well as costs that are not incurred for Serbian.
business purposes. If extensive, is the competent
authority effective in obtaining
Are management fees subject to double tax relief?
withholding?
Management fees would be subject to No experience.
withholding tax only if provided from a When may a taxpayer submit an
jurisdiction with a preferential tax system adjustment to competent authority?
(discussed in more detail above).
No formal rules.

KPMG in Serbia

Igor Lončarević
Tel: +381 11 20 50 570
Email: iloncarevic@kpmg.com

As email addresses and phone numbers change
frequently, please email us at transferpricing@
kpmg.com if you are unable to contact us via the
information noted above.
© 2013 KPMG Central and Eastern Europe Ltd., a limited liability company and a member firm of the KPMG network of independent member firms affiliated
with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved.