Draft Law on Amendments to the Law on Fiscal Cash Registers in Republic of Srpska

The Government of Republic of Srpska has published the Draft Amendments to the Law on Fiscal Cash Registers. The changes relate predominantly to the levels and to the duration of the sentence in certain misdemeanor procedures.

The maximum penalties are foreseen for non-issuance of fiscal receipts, and their amount varies from BAM 10 up to BAM 20,000. For the same violation, penalties are also prescribed for the responsible person as well as a fine from BAM 2,000 to 4 ,000.
It is worth noting at this juncture that the Law on Misdemeanors continues to stipulate that if the perpetrator pays the fines within 8 days from the date of pronouncement, there is a 50% fine reduction.

Changes also apply to the deadlines for payment of fines, and if the penalty is paid within 48 hours, the legal entity will not be prohibited from performing its business activity. Otherwise, the entity will be issued a sanction i.e. will remain closed for business for 30 days. Until now, this sanction was imposed with a 15 day duration. For a repeated offense the penalty will be doubled, and the business will be closed for 60 days.

The reasons for adopting this law can be located in the need to improve the control and inspection procedures regarding the movement of goods and services, with the aim of suppressing the gray economy, which is defined as a priority by the Republic of Srpska Economic Reform Program for the period 2019-2021.

Independent agricultural producers, owners of independent craft shops, legal entities that perform financial transactions through bank accounts, lawyers and others are excluded from the obligation to register sales through fiscal cash registers.

Small entrepreneurs performing craft activities such as shoemakers, hairdressers or beauticians are excluded and will not be fined, which was not the case so far.

Our team is ready to help with any advice that is needed to ensure the smooth running of your business, including assistance with compliant implementation of fiscal registers and adequate reporting practices.

Irena Jokic (BSc Econ), irena.jokic@eurofast.eu
Eurofast Global Ltd. Banja Luka

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