Tax News
Rulebook on VAT and excise duty exemption and VAT refund, related to participation in Expo 2027 Belgrade, entered into force
The basis for this bylaw is the Agreement between Serbia and the Bureau International des Expositions on privileges for Expo 2027 Belgrade (hereinafter: „Agreement “), ratified in Serbia.
Accordingly, the purpose of the respective Rulebook is to facilitate participation in the internationally recognized exhibition Expo 2027 Belgrade and reduce the tax burden for participants.
In general, the Rulebook is mostly applicable on the representatives of the other states, that are beneficiaries in line with the Agreement. However, it also includes the domestic VAT payers that will perform the supply of certain goods to the Offices of the Section Commissioner (hereinafter: „the Offices “).
Accordingly, the purpose of the respective Rulebook is to facilitate participation in the internationally recognized exhibition Expo 2027 Belgrade and reduce the tax burden for participants.
In general, the Rulebook is mostly applicable on the representatives of the other states, that are beneficiaries in line with the Agreement. However, it also includes the domestic VAT payers that will perform the supply of certain goods to the Offices of the Section Commissioner (hereinafter: „the Offices “).
Basically, the Rulebook regulates how and under what conditions the Offices and other parties may obtain:
- exemption from VAT and excise duties; and
- VAT refund,
in relation to participation in Expo 2027 Belgrade.
In short, it defines:
- eligible beneficiaries;
- import and supplies of goods and services that could be subject to tax exemption and VAT refund;
- the procedure for exercising these rights (documentation, deadlines); and
- other specifics related to the VAT-payers.
Additionally, in line with the Agreement, the following benefits are also granted for the Offices:
- exemption from filing tax returns and paying corporate income tax on commercial activities carried out in accordance with the Agreement on participation in Expo 2027 Belgrade;
- exemption from filing tax returns and paying property tax in Serbia, exclusively for the purposes of participation in Expo 2027 Belgrade;
- the same exemptions applicable to the bodies and authorities of the Serbia regarding fees for the use of public areas within the Expo 2027 Belgrade’s site; and
- exemption from financial reporting and audit requirements.
Furthermore, the Offices’ staff, their family members, and related participants (without Serbian citizenship or residence) shall enjoy the following privileges in Serbia:
- exemption from direct income tax on income paid by the Offices; and
- exemption from direct taxation on income earned outside Serbia,
if the respective income is related to Expo 2027 Belgrade.
Bearing the aforementioned in mind, privileges and benefits remain in force as long as necessary to ensure the functions of the Offices are carried out under the Agreement, but no later than December 31st, 2027.
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