An interesting piece of news in the sphere of tax law has recently been provided by the Court of Justice of the European Union decision that found Portuguese withholding tax rules to be breaching EU law.
We advise Serbian companies to seek professional advice in evaluating their current documentation practices' risk of non-compliance.
One of the incentives introduced is the abolishment of the 10% limit on the deductibility of advertising and promotional expenses recognized as expenses in the tax balance sheet.
The Ministry of Finance of Serbia has adopted the Rulebook on arm's length interest rates for 2018 ("Official Gazette of the Republic of Serbia", No. 18/18).
Other amendments include changes regarding the depreciation rules.
On 24 February 2016, Serbia expanded its double tax treaty network by ratifying the Agreement for the avoidance of double taxation with respect to taxes on income, signed with the Republic of Korea on 22 January 2016.
The agreement is based on a standard contract model of the OECD Model Convention and it applies to corporate profit tax, income tax and property tax.
Reed Smith (Worldwide)
The new incentive offered by the Serbian government is essentially a refund of 20% of the qualifying spend incurred by an investor – either an individual or a company – in relation to the production of an audiovisual work in Serbia.
The Official Gazette of Republic of Serbia No. 28/2015 published on March 20, 2015, announced the amendments to the Rulebook on the tax return form for the assessment of personal income tax due.
Schoenherr Attorneys at Law
It is commonplace for foreign companies active in the Republic of Serbia to second their employees to the country via their affiliates or business partners.
The Ministry of Finance passed new rulebooks on the form and content of tax balance and tax return for corporate taxpayers and sole entrepreneurs.
Facing a significant budget deficit, the Serbian Government
plans to change the tax laws for the third time in the last 12
Following the last amendments to the tax laws, the Ministry of Finance has since prepared several rulebooks to help implement the amended legal provisions.
A discussion on the new amendments to the Law on Personal Income Tax.
Serbia continued the expansion of its network of agreements on the avoidance of double taxation regarding income and property taxes by signing a new agreement with the United Arab Emirates.
Babic & Associates
The new Law on Bankruptcy (Zakon o stečaju, Official Gazette of the Republic of Serbia, n.104/09) was enacted on 11 December 2009.
The tax authorities in the region have been intensely active over the end of 2013 and the beginning of 2014 and have implemented several legislative changes.