Regulatory Alerts2019-10-31
Added · Updated
Law on the Execution of Payments of Legal Persons, Entrepreneurs and Natural Persons Not Performing a Commercial Activity
The Republic of Serbia enacted this law to regulate payment account requirements and transaction execution for legal persons, entrepreneurs, and non-commercial natural persons. It mandates that entities open current accounts with authorized providers, deposit cash receipts within seven days, and adhere to specific rules for cross-border transactions and debt settlement. The Ministry of Finance supervises compliance, with defined fines imposed for violations such as failing to open accounts or improperly settling obligations while accounts are blocked.
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