The adoption of amendments, and the new group of energy-related acts are crucial for Serbia’s energy transition, which is set to be implemented through several new regulations. All countries in the Western Balkans must transition to carbon-neutral energy sectors and become part of the integrated energy market. The main goal of the transition is to increase the share of renewable energy sources, improve energy efficiency and reduce greenhouse gas emissions. Members of the Serbian Parliament adopted the Amendments to the Energy Act, the Act on Energy Efficiency and Rational Use of Energy (the “Energy Efficiency Act”) and the Amendments to […]
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During the session held on March 18, Serbian MPs adopted the Climate Change Act (the “Act”). The Minister of Environmental Protection, Ms. Irena Vujović noted that “the issues concerning environmental protection and climate change are of high priority and have finally received deserved attention from the Government of Serbia.” The main goal of the Act is to reduce greenhouse gas (“GHG”) emissions, as the accelerated development of technology and international trade make pollution, and especially emissions of GHG, a global problem. Long History of Global Climate Change Mitigation Acts The United Nations (the “UN”) noted the impending problems caused by […]
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One of the significant novelties in Serbian legislation refers to the regulation of electronic invoicing through the Electronic Invoicing Bill (the “Bill“). The adoption of the Bill is on the agenda of the National Assembly on April 21, and it remains to be seen whether the Bill will be modified and if so, which provisions will be changed. Reasons for the adoption of the Bill One of the key reasons for the adoption of the Bill is further harmonization of Serbian legislation with European Union law. Additionally, in the words of the Minister of Finance, the Bill ”improves the transparency, […]
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The National Assembly of the Republic of Serbia has adopted amendments and modifications to the Foreign Exchange Operations Act,[1] (“Act”) which entered into force, for the most part, on 28 April 2018.[2] These amendments, amongst other things, intend to ease business dealings for domestic IT companies, reduce restrictions pertaining to credit dealings with foreign countries (which is particularly important to multinational companies), expand possibilities for investing in foreign securities and amplify the supervising role of the National Bank of Serbia (“NBS”). This article aims to clarify some of the said amendments and their effect on the business dealings although we […]
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