๐Ÿ‡ท๐Ÿ‡ธ Serbia

Europe
1 residency programs
Residence-based taxation
Belgrade, Serbia

Countries / Serbia

Serbia (Serbian: ะกั€ะฑะธั˜ะฐ) officially the Republic of Serbia, is a landlocked country situated at the crossroads of Central and Southeast Europe in the southern Pannonian Plain and the central Balkans. It borders Hungary to the north, Romania to the northeast, Bulgaria to the southeast, North Macedonia to the south, Croatia and Bosnia and Herzegovina to the west, and Montenegro to the southwest. The country claims a border with Albania through the disputed territory of Kosovo. Serbia's population numbers approximately seven million. Its capital, Belgrade, ranks among the largest citiะตs in southeastern Europe.

Serbia has an emerging market economy in upper-middle income range. According to the International Monetary Fund, Serbian nominal GDP in 2018 is officially estimated at 507 billions USD or 7,243 USD per capita while purchasing power parity GDP stood at 123 billions USD or 17,555 USD per capita. The economy is dominated by services which accounts for 67.9% of GDP, followed by industry with 26.1% of GDP, and agriculture at 6% of GDP.

Known for

Fact Sheet

Continent

Europe

Demonym

Serbian

Calling code

+381

Driving side

Right

Motto

Only unity saves the Serbs (ะกะฐะผะพ ัะปะพะณะฐ ะกั€ะฑะธะฝะฐ ัะฟะฐัะฐะฒะฐ)
Population
7,022,268
Human development index
0.79
Life expectancy
75 years
Unemployment rate
22%
Inflation rate
1.5%
Fertility rate
1.4

Cost of Life

Cost of Living Index
35.72
Rent Index
9.08
Groceries Index
25.46
Restaurant Price Index
28.63
Local Purchasing Power Index
36.72

Residency Programs (1)

Taxation overview

Tax system

Residence-based taxation

Countries with a residence-based taxation levy tax from your worldwide income for as long as you're a tax resident of that country. This is the most common taxation system.

Tax residence definition varies from country to country. General rule is you're a tax resident of a country if you spend 183 days or more in it in a year.

Tax rates

Personal Income TAX (PIT)

Progressive tax up to 10% above 16,300 RSD (149 USD).

From:

  • Worldwide income, if resident
  • Serbian income, if non-resident
Investment Income Tax

Flat tax of 15%.

From:

  • Worldwide dividends, if resident
  • Worldwide interests, if resident
  • Worldwide savings, if resident

Income subject to tax as investment income includes interest on loans, savings, and other deposits, dividends/shares in profits, receipts on a profit sharing basis, and taking from the assets and using the services of the company by the companyโ€™s owner for oneโ€™s personal needs, as well as the revenues from real estate (immovable property). The tax base for all types of investment income is considered to be the total gross amount of such income. Tax is not payable on the interest accrued from savings in Serbian dinars and on government bonds.

Rental Income Tax

Flat tax of 20%.

From:

  • Worldwide rental income, if resident

Rates Year of Assessment

YA 2020

Tax Treaties (59)

Serbia has concluded 59 tax treaties (also called double tax agreements, or DTAs) with other countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes, inheritance taxes, value added taxes, or other taxes.
Project by @SlyBridges

© 2020 where2move.io. All rights reserved.