Tax Alert, January 2020
Rulebook on content of corporate income tax return
On 28 December 2019 Rulebook on content of corporate income tax return (“Official Gazette of RS”, No. 30/2015, 101/2016, 9/2019 and 94/2019, hereinafter: “Rulebook”) has been published, due to the need for harmonization with the provisions of Corporate Income Tax Law (hereinafter: “the Law”), which are applicable to determination of corporate income tax liability starting from tax year 2019, as well as amendments to the Rulebook on content of tax balance sheet and other issues relevant for the assessment of corporate income tax (hereinafter: “Rulebook on tax balance sheet”).
Rulebook comes into force on 1 January 2020, and is applicable on corporate income tax calculation for 2019.
Below is an overview of new tax return items, as defined by the Rulebook:
Item 5.4.8. Annex 2 PB1 – includes the amount of corporate income tax reduction, in accordance with Article 53b of the Law, as stated within item 5 of Annex 2 of PB1 form, which is prescribed by Rulebook on tax balance sheet (i.e. tax credit related to capital gain tax paid abroad).
Item 5.4.9. PK 5 – includes the amount of corporate income tax reduction, determined in accordance with Article 50j of the Law, and stated within item 5 of PK 5 form (the amount of tax credit related to the investment in startup which perform innovative business activity).
Item 5.6. – beside the amount of tax calculated due to loss of right to use tax incentive in accordance with the Law, tax liability which arise from the loss of right to apply tax consolidation is also included within this item.
Item 6.4.4. PK 5 – includes carried forward tax credit, as stated within item 6 of PK 5 form (tax credit related to the investment in startup which perform innovative business activity).