Obtaining a Tax Clearance Certificate in Serbia for a Non-Resident Company
- What made the matter challenging?
- How did we find a solution?
- The result
- Contact a lawyer to get further information
The REVERA team assisted a non-resident company in obtaining a tax clearance certificate required to transfer funds from its account with a Serbian bank to an overseas account.
The certificate was required under the Serbian Law on Foreign Exchange Operations: non-resident companies holding non-resident accounts in Serbia must obtain such a certificate before transferring funds as part of intra-group transactions. Although the company did not have a Serbian tax identification number and did not conduct any business activities in Serbia, the Serbian Tax Administration was prepared to issue the certificate only upon confirmation that the funds being transferred had no connection with Serbia.
What made the matter challenging?
The matter was complicated by the fact that the client operated the account remotely via online banking, whereas the certificate is issued exclusively in hard copy and requires direct interaction with the tax authority.
How did we find a solution?
REVERA’s lawyers analysed the source of the funds and the bank statements, identified the required set of documents before commencing the procedure, arranged for the power of attorney to be certified, and prepared Serbian translations of the supporting documents.
Acting under the power of attorney, the REVERA team independently submitted the application to the Tax Administration, assisted throughout its review and promptly provided additional explanations at the tax inspector’s request, without requiring the client’s representative to travel to Serbia.
The result
The client obtained the tax clearance certificate and was able to transfer the funds immediately to an overseas account without travelling to Serbia in person.
Author: Bogić Sekulović and Maryna Matsiuk.
Facing a similar issue with a bank account?
We regularly assist clients with precisely these types of matters.
If your company uses a Serbian bank and is planning to transfer funds abroad, contact our lawyer in advance. Clarifying the requirements before submitting an application is quicker than dealing with a transfer that has already been blocked.
Contact a lawyer to get further information
Contact a REVERA lawyer
