(08.05.2014.)
- Prolonged deadlines in collection and payment of ex/im

RS Ministry of Finance has informed business subjects that, according to the new amendments to the Foreign Exchange Act, the deadline for collection or payment of exports and imports of goods and services are postponed from six months to one year from the date of such exports or imports. Also, the deadline for pre-paid, or paid for goods and services that are exported, or imported, have postponed from six months to one year from the date of collection, or paying. In the future, transactions in deadlines longer than one year are considered as a foreign credit, which should be reported to the Ministry of Finance on forms prescribed by the Ordinance on the method, forms and deadlines for reporting on foreign credit.