The latest amendments to the Serbian Law on Foreign Exchange Transactions (Zakon o deviznom poslovanju, Official Gazette of the RS 62/2006, 31/2011 and 119/2012) (“Forex Law”), adopted in 2012, liberalized in a nutshell the regime applicable to foreign trade set-offs by scrapping the requirement for the approval by the Ministry of Finance.
However, the liberalization paved by the Forex Law took effect only on 13 July 2013, when the governmental Decree implementing the statutory provisions came into force. Read more
