In the official Gazette of the Republic of Serbia no. 118/2021 from 9.12.2021, the amendments to the Law on Property Tax were published.
The most significant change refers to the transfer of used motor vehicles, where the buyer will be the taxpayer for the tax on the transfer of absolute rights.
Also, the tax base for inheritance and gift tax, as well as tax on the transfer of absolute rights related to the transfer of property rights on used motor vehicle has been changed. Namely, the tax base will no longer be the market value, determined on the basis of the AMSS catalog. The amount of the tax base will be determined by applying the appropriate formula, depending on 3 parameters: vehicle engine displacement, vehicle engine power and vehicle age factor. By entering the stated criteria on the appropriate portal, taxpayers will be able to calculate the value of the vehicle.
In the case of this transfer between persons who are not VAT payers, the principle of self-taxation will apply, whereby no tax return will be filed, but by entering the appropriate parameters on the portal, these persons will receive a document that will replace the Tax Administration decision, which they can use to pay tax at the bank. For VAT payers and legal entities, the tax will continue to be determined by Tax Administration decision. These changes will enter into force as of 31 March 2022.
Starting from 1.1.2023, Public Revenue Offices fully determine, collect and control inheritance and gift taxes and transfer tax.