Abstract
The tax administration of every tax form is a very important area of its successful operation. This is especially the case with taxes such as value added tax. Although it is important in the tax system of each country, as it greatly contributes to filling the country's budget, due to a number of specific features of its operation, it requires a well-timed legislation. In fact, it is a complex form of taxation which, if not set on the appropriate legal basis, can easily lead to high administrative costs for the state (i.e. its administrative entities) and taxpayers. There is a high risk of occurrence of tax evasion which, if occurs, leads to a set of problems in the tax system of a given state. This paper illuminates the difference in terms of demands that are placed in front of the taxpayers in two completely different tax systems. On the one hand, the Republic of Serbia, by its size and economic potential, has a relatively small economy, so it is necessary to set such tax regulations that will be cheap enough to meet the demands of the taxpayers, and which will ensure sufficient mass of fiscal revenues. On the other hand, the European Union has significantly developed tax legislation, which, at the same time, sets more complicated administrative requirements. Therefore, the recommendations for both analyzed areas will go in the direction of additional harmonization and simplification of legislation, as well as avoidance of cumbersome and inefficient administration. Finally, it is necessary to harmonize them (regulation and administration) with the amount of collected tax revenues.
Highlights
Value-added tax, a very generous form of consumption tax, has undoubted advantages over the earlier form of retail sales tax
The following paper will give an overview of the theoretical postulates concerning administrative obligations of taxpayers, and make a comparative analysis of the laws of Serbia and the European Union which define this issue
Article 220 of Directive 2006/112/EC provides that any person who is engaged in trade of goods and services that are subject to taxation by value added tax, has obligation to issue an invoice for delivered goods and services
Summary
Value-added tax, a very generous form of consumption tax, has undoubted advantages over the earlier form of retail sales tax. These benefits are reflected in the fact that at every stage of the production and transportation chain only added value is taxable and the cumulative effect of tax is avoided. Value added tax requires adequate regulations and welltrained staff in terms of its administration This form of sales tax, because of its specific characteristics, is very required tax, and without a proper legal framework that regulates the field of administration, as well as appropriate staff, would not achieve its efficiency in collecting public revenues. The following paper will give an overview of the theoretical postulates concerning administrative obligations of taxpayers, and make a comparative analysis of the laws of Serbia and the European Union which define this issue
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