On 11 February 2021, the Serbian Business Registers Agency received the Opinion of the Ministry of Finance, No. 011-00-00100/2021-16 issued on 3 February 2021, stating that the 2020 regular annual financial statements of an entrepreneur (irrespective of the size in which the entrepreneur is classified on the basis of data from the 2019 financial statement) shall consist of the Balance Sheet and Profit and Loss Account. Specifically, this means that the subject statements can be submitted in the described manner by entrepreneurs who apply International Financial Reporting Standards regardless of the fact whether it is a regulation determined by the size of the entrepreneur or a “higher” regulation that the entrepreneur himself has chosen to apply.
In accordance with the aforementioned Opinion, the Agency will provide for submission of regular annual financial statements of the said categories of entrepreneurs immediately after the completion of the procedure for the reception of Data for Statistical Purposes for the year 2020, i.e. as of the beginning of March.
In this respect, the Agency hereby invites all entrepreneurs who apply the International Financial Reporting Standards and who intend to draw up and submit their 2020 financial statements at this time, using a brief set of forms, to submit the Data for Statistical Purposes Form only. They will be enabled to submit the Regular Annual Financial Statement Form consisting of the Balance Sheet and Profit and Loss Account after 1 March 2021.
On the other hand, the Agency continues to enable the said entrepreneurs to draw up and submit their financial statements using, if they wish, a wider set of forms (Balance Sheet, Profit and Loss Account, Other Comprehensive Income, Cash Flow Statement and Statement of Changes in Equity) either simultaneously with the Data for Statistical Purposes (until 1 March) or separately from that report (after 1 March 2021).
If they wish, those entrepreneurs who have already submitted the Data for Statistical Purposes and the Regular Annual Financial Statement consisting of the wider set of forms can send an email to finizvestaji@apr.gov.rs, stating that they withdraw from the part relating to the Regular Annual Financial Statement, based on which they will be enabled (after 1 March) to submit a new financial statement consisting only of the Balance Sheet and Profit and Loss Account.