On November 20, 2018, Government of the Republic of Serbia forwarded for adoption the draft Law on the Amendments to the Corporate Income Tax Law. It is expected that the proposed amendments will soon be adopted. 

New addition is there and it is about the CIT treatment of change in accounting policy effects due to first implementation of IFRS. Namely, it is envisioned that the effects of change in accounting policy (due to the first implementation of the IFRS, which are reflected in equity) will be recognised for CIT assessment purposes as revenues/expenses over time of 5 (five) tax periods, starting from the tax period in which the policy change occurred.