Serbia

updated:2020-08-03    

 

VAT:


VAT exemption on donations of supplies of goods/services to certain health institutions. Taxpayers making such supplies are allowed to deduct input VAT. The exemption applies from 15 March until the end of the state of emergency.


CIT


Payment of advance corporate income tax for the months of March, April, and May 2020, can be deferred until the date of filing the final annual tax return for the relevant year.


PIT and SSCs


Deferral of PIT advance payments and SSCs levied on salaries and wages in March, April and May 2020 (if the taxpayer wish to do so) until 4 January 2021.

 

Other:


(1) For all the taxpayers who reached an Agreement with the Tax Administration to pay taxes in installments during the "state of alarm", the Tax Administration will not suspend the Agreement and will not calculate the interest rate for the installments not paid on time.

 

(2) Interest rate for tax debts is calculated and paid, but is decreased by 10% and is equal to the annual referent rate of the National bank of Serbia, which currently amounts 1.75%. When it comes to paying tax on wages, social contributions and corporate profit tax, there won't be any interest calculated since their payment is deferred.

 

(3) The Government will execute payment of the minimal wage during the "state of alarm".

 

(4) The Government will  give 50% of the net minimal wage to employees which are fired due to lack of work.

 

(5) The Government introduced a Program for grants in order to retain liquidity and cash flow for individuals, SMEs, agricultural companies and all those who are registered for producing food.

 

(6) Deferral of payments of installments for credits given by commercial banks and leasing installments lasting 90 days where there is no interest rate calculated.

 

(7) Payment of replacement income to individuals that have lost their job because of the Covid-19 crisis (up to certain amount).

 

(8) Cash transfer to all residents older than 18 years of EUR 100.

 

Key Policy Responses as of May 5, 2021

 

1. Three-month deferment of labor taxes and social security contributions for all private companies, to be repaid in 24 installments starting from 2021 (RSD 100bn). 

 

2. Deferment corporate income tax advance payment during the second quarter of 2020 (RSD 21bn). 

 

3. Other measures include a 3-month moratorium on enforcement and interests on tax debt under rescheduling agreements and 10 percentage points reduction of the interest rate on tax debt. 

 

4. A second round of measures was adopted in late July,2020, including wage subsidies for SME employees for another two months (RSD 36 billion), and deferment of labor taxes and social security contributions for all private companies for an additional month (RSD 30 billion).

 

A supplementary budget with new support measures was adopted in April 2021 without tax policies.

 
 
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