New Draft Law on Trade recognizes dropshipping, online stores and prices expressed in foreign currencies

The new proposition of amendments to the Law on Trade brings about changes in treating offline and online trade, and it is especially significant that various business models and their specificities are now recognized in the latter, Startit writes.

These amendments, which have recently passed the public discussion procedure along with the amendments to the Law on Electronic Trade and which are now to be put before the parliament, features for the first time concepts such as an electronic store and an electronic platform and also recognizes and defines the most frequent forms of electronic trade, such as the sale through an electronic store or an electronic platform, as well as dropshipping.

In other words, in addition to recognizing e-commerce, the law finally recognizes that the seller does not have to be in possession of the goods and projects the model of trade in dropshipping, the text reads.

In addition to various forms of electronic trade, another new feature is the possibility of displaying prices in foreign currencies. The current Law on Trade proscribes that all these prices must be displayed in dinars, whereas the amendments say that they must be displayed in dinars only if the sale is meant for the local market. In other words, owners of electronic stores who sell their products worldwide can now display prices in foreign currencies.

What's more, the draft law enables the displaying of sales prices in foreign currency for certain products and services sold online, regardless of whether the electronic trade is directed at the local or the foreign market. Prices can then be displayed in foreign currencies in case of “online sales and purchase of software and other digital products, which are delivered exclusively through telecommunications, digital or information-technology devices”.

As the Government says, the amendments were prepared in cooperation with the economy. The preparation included the Work Group consisting of the Chamber of Commerce of Serbia and the companies around it, the National Alliance for Economic Development, as well as an informal group of service providers, including some of the biggest names in e-commerce: KupujemProdajem, Halo Oglasi, Limundo, Kupindo...

Vlada Republike Srbije

Privredna komora Srbije

NALED

KP Advertajzing Niš

Halo Oglasi d.o.o. Beograd

LimundoGrad d.o.o. Beograd

Kupindo

draft amendments to Law on Trade

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online sale in foreign currencies