# Multi-Region Overview

# Multi-Region Accounting Standards Overview

**Source:** Research report `/Users/makinja/system/reports/research-bilko-multi-region-2026-02-20.md`

## Key Architectural Insight: Shared Core + Country Plugins

### What's SHARED (build once)

| Component | Standard | Notes |
|-----------|----------|-------|
| Chart of Accounts structure | 10 classes (0-9), decimal | Same across all 3 countries |
| Accounting standards | IFRS / IFRS for SMEs | Adopted by all 3 |
| Bookkeeping | Double-entry | Mandatory everywhere |
| Payment formats | ISO 20022 (pain.001, camt.053) | All 3 converging |
| E-invoice format | UBL 2.1 XML (EN 16931) | Standard across all 3 |
| Data protection | GDPR-aligned | All 3 converging |
| Digital signatures | eIDAS-aligned (QES/AES/SES) | All 3 support |
| Software certification | None required | No barriers to entry |
| Data residency | No in-country mandate | Cloud hosting OK |
| User licensing | No professional license needed | Anyone can use |

### What's PER-COUNTRY (plugin architecture)

| Component | Serbia | Croatia | BiH |
|-----------|--------|---------|-----|
| **Currency** | RSD | EUR | BAM |
| **VAT standard rate** | 20% | 25% | 17% |
| **VAT reduced rates** | 10% | 13%, 5% | None |
| **VAT registration threshold** | 8M RSD | 60K EUR | 100K BAM |
| **VAT return frequency** | Monthly/Quarterly | Monthly | Monthly |
| **VAT filing deadline** | 15th of next month | Last day of next month | TBD |
| **Corporate income tax** | 15% | 18% (10% if <1M EUR) | 10% |
| **CIT filing deadline** | June 30 | April 30 | March 31 |
| **WHT dividends** | 20% | 10% | FBiH 5%, RS 10% |
| **E-invoice platform** | SEF (efaktura.gov.rs) | eRacun/HR-FISK (FINA) | CPF (pending) |
| **E-invoice status** | Mandatory since 2023 | Mandatory Jan 2026 | Likely 2027 |
| **Fiscal devices (B2C)** | LPFR + ESIR | Fiskalizacija 1.0 + 2.0 | ESET |
| **Chart of Accounts template** | Pravilnik (2021) | RRiF standard | FBiH Pravilnik (2022) |
| **Filing institution** | APR | FINA | Agency of Financial Info |
| **Document retention** | 10 years | 11 years | 10-11 years |
| **Payment system** | IPS + SEPA (2026) | SEPA (full) | Gyro Clearing + RTGS |
| **Open Banking** | PSD2 aligned (Jan 2026) | PSD2 (full) | Not adopted |
| **Tax portal** | ePorezi | ePorezna | UIO (VAT), entity portals (CIT) |
| **Small biz regime** | Pausal (<6M RSD) | Pausalni obrt (<60K EUR) | No specific regime |

## Launch Order

1. **Serbia FIRST** - SEF operational, largest opportunity, e-invoicing driving adoption NOW
2. **Croatia SECOND** - HR-FISK launching Jan 2026, EU compliance adds credibility
3. **BiH THIRD** - Wait for CPF specs (2027), build locale/tax early

## Competitive Strategy

- **Compete on UX** - Pantheon = ERP (complex), Bilko = accounting (simple). Fiken model.
- **Compete on price** - Pantheon charges "secretary salary" equivalent. Undercut.
- **Compete on cloud-native** - Minimax closest but older architecture
- **Local language + compliance = moat** - QuickBooks/Xero can't compete here

## Country-Specific Details

See:
- [Serbia (RS)](/books/bilko-balkan-accounting-saas/page/serbia-regulatory-summary)
- [Croatia (HR)](/books/bilko-balkan-accounting-saas/page/croatia-regulatory-summary)
- [Bosnia & Herzegovina (BA)](/books/bilko-balkan-accounting-saas/page/bosnia-regulatory-summary)