Taxation in Serbia

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Taxation in Serbia consists of the following; the standard corporate tax rate in Serbia is 15%, although some deductions might apply.^[1] The standard VAT rate is 20% and the lower rate is 10%.^[2] Income from dividends is a subject to a 15% tax.^[3] Serbia has tax treaties with most countries in, but few outside, Europe.^[4]

The standard personal tax rate is 10%. If the individual earns more than 3 times average salary, an additional tax rate of 10% is applied. For a person earning six times the average salary, an additional 15% is applied on top of the previously described taxes. It must be clear that all the tax rates described are cumulatively applied, one on top of the other.^[3]

Obligatory contributions for state funds by an employee (up to a certain amount) include:^[5]

• 14% state pension fund
• 5.15% state health fund
• 0.75% unemployment insurance

Obligatory contributions for state funds by an employer (also capped) include:

• 12% state pension fund
• 5.15% state health fund
• 0.00% unemployment insurance

The effective personal income tax rate is therefore somewhere in the range 20–41%.^[6] Capital gains are not subject to personal income tax.

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