Serbia: Annual Personal Income Tax non-taxable thresholds for 2019 news

published on 16 March 2020 | Reading time approx.  1 minute

Statistical data relevant for determining new non-taxable thresholds for Annual Personal Income Tax payable by Serbian tax residents and nonresidents in respect of the income earned in FY 2019 have just been published. 

Preliminary, non-taxable threshold is the following:

• RSD 2,729,304 (or approx. 23,230 Euro).´

In addition, allowable deductions are expected to be as follows:

• RSD 363,907 (or approx. 3,100 Euro) for a taxpayer; and
• RSD 136,465 (or approx. 1,160 Euro) for each dependent.

The Annual Personal Income Tax is payable at the rate of 10 per cent if the total net income subject to annual taxation (income excluding income taxes and Serbian mandatory social security contributions paid) is between RSD 2,729,304 and RSD 8,187,912 (or approx. 69,680 Euro). Net income above RSD 8,187,912 would be subject to Annual Personal Income Tax at the rate of 15 per cent. The deadline for submitting Annual Personal Income Tax return is 15 May 2020. Annual Personal Income Tax return can be submitted in electronic or paper format.
 

Tax residents and non-residents of Serbia whose annual net income (subject to annual taxation) in FY 2019 does not exceed the above limit are not liable to submit annual tax return.