Serbia

Overview

Last reviewed - 13 February 2020

Serbia is a landlocked country in Central Southeast Europe. It is bordered by Hungary to the north; Romania and Bulgaria to the east; the Republic of Macedonia to the south; and Croatia, Bosnia and Herzegovina, and Montenegro to the west. Its capital and largest city is Belgrade. The official language of Serbia is Serbian, and the currency is the Serbian dinar (RSD).

The Kingdom of Serbs, Croats, and Slovenes was formed in 1918. Its name was changed to Yugoslavia in 1929. Yugoslavia (i.e. the Socialist Federal Republic of Yugoslavia) joined the United Nations (UN) as an original member in 1945. By 1992, it had been effectively dissolved into five independent states (Bosnia and Herzegovina, Croatia, Slovenia, Macedonia, and the Federal Republic of Yugoslavia), which were all subsequently admitted to the United Nations. The Federal Republic of Yugoslavia, whose name later changed to the State Union of Serbia and Montenegro, was admitted to the United Nations on 1 November 2000. The state union effectively came to an end after Montenegro's formal declaration of independence on 3 June 2006.

After renewing its membership in the International Monetary Fund (IMF) in December 2000, Serbia continued to reintegrate into the international community by rejoining the World Bank's International Bank for Reconstruction and Development (IBRD) and the European Bank for Reconstruction and Development (EBRD).

Belgrade has made progress in trade liberalisation and enterprise restructuring and privatisation, including telecommunications and small and medium-size firms. It has made some progress towards European Union (EU) membership, signing a Stabilization and Association Agreement with Brussels in May 2008 and with fully implementing the Interim Trade Agreement with the European Union in February 2010. The European Union granted Serbia candidate status in March 2012. Serbia is also pursuing membership in the World Trade Organization (WTO), and the process of accession to the WTO is expected to continue during 2019.

The IMF projects that Serbia's real gross domestic product (GDP) will grow by 4% in 2020.

PwC Serbia supports clients with the local knowledge and skills of its people and with access to a broad range of other professionals across the PwC global network of firms.

PwC Serbia provides a full range of assurance, tax, business advisory, and legal services to local clients and international corporations present in Serbia. Our office has over 200 local and expatriate specialists with knowledge of local regulations and international best practice.

Our teams have skills and experience in all areas of taxation, including local and international corporate taxation, indirect taxation, customs and trade regulations, expatriate taxation, HR management, and accounting services.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%) 15
Corporate income tax (CIT) due dates
CIT return due date 30 June of the following year.
CIT final payment due date 30 June of the following year.
CIT estimated payment due dates Monthly advance instalments to be paid by the 15th day of the following month for the prior calendar month.
Personal income tax (PIT) rates
Headline PIT rate (%) 20
Personal income tax (PIT) due dates
PIT return due date 15 May
PIT final payment due date NP
PIT estimated payment due dates NP
Value-added tax (VAT) rates
Standard VAT rate (%) 20
Withholding tax (WHT) rates
WHT rates (%) (Div/Int/Roy) Resident: NA;
Non-resident: 20 / 20 / 20;
Non-resident in tax haven: 20 / 25 / 25
Capital gains tax (CGT) rates
Corporate capital gains tax rate (%) 15
Individual capital gains tax rate (%) 15
Net wealth/worth tax rates
Headline net wealth/worth tax rate (%) NA
Inheritance and gift tax rates
Inheritance tax rate (%) NP
Gift tax rate (%) NP

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.