The closing of the fiscal year presents an opportunity to thoroughly evaluate business operations and set a solid foundation for the coming year. It is therefore essential to focus on the key aspects that affect the accuracy and reliability of your financial reports.

The annual financial statements must provide a fair and precise reflection of the company’s financial position. This aspect is crucial for any stakeholders making informed decisions based on this data. Each accounting entry should therefore be harmonized with the applicable accounting standards, as errors can have negative impact on both business performance and reputation.

As of 1 January 2021 with the exit of the UK from the European Union, there were certain changes in the field of VAT refund, which concern both taxpayers from the UK who will file VAT refund claims in the Member State of refund, as well as Slovenian taxpayers who will file VAT refund claims in the UK. For goods and services charged until the end of 2020, the aforementioned taxable persons must file a VAT refund claim no later than 31 March 2021. For VAT refund claims for 2020 and for claims from previous years, relating to the obligation of VAT payment before the end of 2020, the rules of the VAT Directive and Directive 2008/9/EC continue to apply, namely those rules apply by the end of 2025.