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IPS - Instant Payments Serbia
In real time, 24 hours a day, 7 days a week, 365 days a year, funds are available in less than ten seconds.
Each individual invoice is transferred to the server of the tax administration via an internet connection. Upon receipt of the invoice, the Tax Administration registers it and assigns a tax number to it, which it forwards back. After receiving the tax number, we have a confirmation that the account has been fiscalized and forward it to the customer within a few seconds.
The new Law on Electronic Invoicing introduced the obligation to use the electronic invoice system in transactions in the economy, which implies that all business entities (from the private and public sector) will in the future exclusively operate via electronic invoices.