Agreements for the avoidance of double taxation with respect to taxes on income and on capital signed by Serbia and 4 countries (Republic of Korea, Armenia, Kazakhstan and Luxembourg) are effective from 1st January 2017.
The National Assembly of the Republic of Serbia on 28th December 2016 adopted the amendments to three tax laws: Law on Value Added Tax, Excise Law and the Law on Tax Procedure and Tax Administration.
Serbia has moved up for 7 positions, from 54th to 47th, on the World’s Bank Doing Business list for 2017. The greatest progress was made in the field of Construction permits, by as much as 117 positions.
Serbian Business Registers Agency (SBRA) issued on 15 August 2016 press release stating that thanks to the advancement one-stop system of registration, company formation and issuance of Tax Identification Number (TIN) time is shortened to a maximum of 24 hours.
Annual personal income tax is paid by natural persons which had annual income higher than 2,201,220 RSD in 2015.
Withholding tax at the rate of 20% is calculated and payable on income derived by non-resident legal entity from a resident entity in Serbia on the basis of fees from services provided or used, or to be provided or used in the territory of Serbia.
Starting from 14 October 2015 non-taxable part of per-diems for business trips aboard is determined at fixed amount of 15 EUR for each foreign country.
Minister of the Finance of the Republic of Serbia adopted ten regulations on the application of the VAT Law, which were published in the ”Off. Gazette of RS” no. 86/2015 from 14.10.2015.