What is the Company Taxation System?

1. Taxation of companies:

• Corporate Tax 15 %
• Dividend Tax 15%
• Possible use of large double taxation agreements network with 54 countries
• In case when representative office receives funds from the parent company – 0%

2. Personal taxes based on yearly worldwide income. (Data for 2015)

• 0% for income bellow 18.000 EUR
• 10% for income between 18.000 EUR and 53.000 EUR
• 15% for more than 53.000 EUR
• Deductions available up to 50% of taxes.
• Possible use of large double taxation agreements network.
• Tax declarations must be submitted in mid of May in the year following fiscal year.
• No need to report personal accounts abroad
• Not necessary to report controlling company abroad

3. Real Estate tax:

1. Progressive and depending from location, usually not more than 0,4%.

4. Wealth tax: 0%

5. Inheritance and gift tax: 1,5% – 2,5%
Deductions available in case of family inheritance.

6. VAT: 20%

• Many of big worldwide banking groups have recognized potential of Serbia. See list below:
• Western Europe: Banca Intesa, Unicredit, Erste, Raiffeisen bank, Societe Generale
• Turkey: Halkbank
• Russia: Sberbank, VTB, Expobank
• UAE: Mirabank,
• USA: Addiko bank owed by US investment fund.
• China: Bank of China

7. A special tax of 3-5% on income up to 50 000 euros for registered entrepreneurs.