The Republic of Serbia is located in Southeastern and Cetral Europe at the crossroads of the Pannonian Plain and the Balkans. Serbia borders Bosnia and Herzegovina, Bulgaria, Croatia, Hungary, Kosovo, Montenegro, North Macedonia and Romania. Serbia has a territory of 88,499 square kilometers. The capital city of Serbia is Belgrade, the largest city and the location of key government institutions. Serbia has a population of 6,8 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 15%. Tax returns are filed on an annual basis. Advance income tax payments are made on a monthly basis
- Dividend withholding tax - 20%
- Interest withholding tax - 20%
- Royalties withholding tax - 20%
- Capital gains tax - 15%
- VAT - Standard tax rate 20% or reduced rates 0% and 10% or tax exempt. Tax returns are filed on a monthly or a quarterly basis
- Personal income tax - from 10% up to 15%.
The following are the most common types of companies to incorporate a company in Serbia as:
- Limited liability company (društvo s ograničenom odgovornošću - d.o.o.)
- Public limited company (akcuinarsko društvo - a.d.)
- General partnership (ortačko društvo - o.d.)
- Limited partnership (komanditno društvo - k.d.)
- Cooperative company (zadruga)
- Branch office (ogranak).
Official currency of Serbia is Serbian dinar (RSD).
Serbia has an upper-middle income emerging market economy. The economy of the country is based on service sector, which accounts for 2/3 of the total GDP. The largest sectors of the economy are energy, automotive industry, machinery, mining and agriculture. International trade also contributes to the economic output.
The GDP of Serbia grew by 7.5% in 2021 and amounted to USD 63 billion. Tertiary sector makes up almost 68% of the GDP of the country, followed by industry sector at 26.1%, agriculture at 6%.
In terms of foreign trade the largest exports of the country are automobiles, base metals, furniture, machinery, chemicals, sugar, tires, clothes, pharmaceuticals, fruits, nuts, maize (corn).
Imports of Serbia consist of energy, petroleum oils, natural gas, cars and vehicles, transmission apparatus, electric conductors, consumer goods.
Primary trading partners of Serbia are Germany, Bosnia and Herzegovina, Hungary, Montenrgro, North Macedonia, Poland, Czech Republic, Romania, China, Poland, Turkey, France and Slovenia.