On publishing the draft Personal Income Tax Amendment Act and draft Compulsory Social Insurance Contributions Amendment Act


The Ministry of Finance has published the draft Personal Income Tax Amendment Act and draft Compulsory Social Insurance Contributions Amendment Act. Here is a short summary of the legal changes which, if adopted, shall take effect on 1st January 2021:

 

  • The tax-free personal allowance is increased from the current 16,300 RSD to 18,300 RSD a month;
  • The „old“ tax reliefs are extended again (articles 21v and 21d of the Personal Income Tax Act);
  • The definition of an employer is extended so as to specify their right to a tax relief on account of qualified new hires;
  • A new way of levying tax on the income of individuals assigned to Serbia from abroad is introduced;
  • For domestic legal entities a notification about someone’s wish to receive salary shall be delivered electronically;
  • According to an expanded definition, the scope of income from capital shall include income derived from the ownership over an investment unit of an alternative investment fund;
  • More types of income shall be subject to capital gains tax;
  • Profit from special games of chance shall be tax exempt;
  • The right to a tax credit on the basis of annual personal income tax stemming from investing in an alternative investment fund and/or purchasing of an investment unit of an alternative investment fund is introduced;
  • The number of persons required to pay withholding tax on the income from capital if the payer of income is an open investment fund and/or an alternative investment fund which is not considered a legal entity is increased.

Tax news

Komentari su onemogućeni