Tax laws Serbia
Serbia's taxation system comprises various taxes, including individual income tax, corporate income tax, value-added tax (VAT), and capital gains tax.
1. Individual Income Tax:
Progressive Tax Rates: Serbia applies a progressive tax rate to personal income, with rates ranging from 10% to 15%. Additional contributions include:
Employee Contributions:
- 13% for the state pension fund
- 6.5% for the state health fund
- 0.5% for the unemployment fund
Employer Contributions:
- 11% for the state pension fund
- 6.5% for the state health fund
- 0.5% for the unemployment fund
- An extra 10% tax for salaries exceeding three times the average salary
- An additional 15% tax for salaries exceeding six times the average salary
2. Corporate Income Tax:
- Standard Rate: The corporate income tax rate is 15%.
3. Value-Added Tax (VAT):
- Rates: Serbia imposes a standard VAT rate of 20%, with a reduced rate of 10% for certain goods and services.
4. Capital Gains Tax:
- Rates: Capital gains are subject to a 15% tax for residents and 20% for non-residents.
5. Fiscalization System:
- Implementation: Since 2022, Serbia has enforced a software-based fiscalization system requiring real-time communication of all transactions with tax authorities. Businesses must use certified software solutions to issue fiscal receipts.
Recent Developments:
- Tax Reforms: Serbia has updated its fiscalization system to enhance tax compliance and reduce fraud. The new system mandates real-time reporting of transactions through certified software, aiming to increase transparency and efficiency in tax collection.
For detailed and current information, consulting the Serbian Tax Administration or a tax professional is recommended.
RELATED Blog
0 comments