Application for the Preparation and Submission of Financial Reports and Documentation for the Year 2024
On January 31, 2025, the application for the preparation and submission of financial reports and documentation for the year 2024 was launched.
Why are financial reports important?
- The financial reports are approved by the assembly of the business entity. It is of significant practical importance that, until the approval of the annual financial reports, the assembly cannot make a decision on the distribution of profits. If the financial report is not approved by the deadline for holding the regular session of the assembly, the management bodies of the business entity cannot make a decision regarding the distribution of interim dividends.
- Since 2010, within the Business Registers Agency, there has been a special and unique information system — Financial Report Register, which enables the monitoring of business trends in the Republic of Serbia, analysis of financial status, and performance of business entities, assessment of business risks, contributing to the creation of a safer and more favorable business environment, improving the awareness and security of investors, as well as increasing the competitiveness of the domestic economy and encouraging the inflow of foreign investments.
- The Accounting Law mandates the submission of financial reports in electronic form, signed with a qualified electronic signature of the legal representative, which led to the establishment of a Special Information System by the Agency, ensuring a unified process for entering and submitting financial reports and related documentation.
Key innovations introduced by the application:
- The system now automatically generates the document “Statement of Inactivity,” which is then signed by the legal representative of the business entity.
- Fees for processing and publishing financial reports are adjusted to the consumer price index.
- Data on individuals responsible for preparing the financial reports are published, and the possibility to change this information after the publication of the financial reports is introduced.
For additional information or consultations, our team at Tasić & Partners is at your disposal.