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Tax Minimization in Serbia

Tax Minimization in Serbia

Tax minimization in Serbia can be a good choice for your company in this country if you want to cut the amount of taxes, in a legal way. For a better understanding of the methods which can be implemented, you can ask for assistance from our team of company formation representatives in Serbia. Our local agents can also help foreigners set up a company in Serbia by guiding them with the authorities in charge.

Tax minimization methods available in Serbia

The profits of a company in Serbia can be maximized in certain ways a consultant can explain. Instead of overpaying taxes in Serbia, it is suggested to create a tax plan and set up the main targets for the firm you own. Tax minimization can be a good option for companies in Serbia. Our consultants can verify all aspects of the taxes imposed for companies registered in Serbia, like the VAT, the income, and corporate tax, or the social contributions.

An important tax minimization option for your company in Serbia can be subject to deductions on gifts, bonuses, subscriptions, or office suppliers. Our company formation agents in Serbia are at your discretion with support for company registration in Serbia and can also provide you with complete information about the tax minimization methods you can adopt in the firm.

Are tax advice and planning available for companies in Serbia?

Tax advice and planning can be presented by a business consultant for your firm in Serbia. He or she can suggest to the owners varied investment methods to increase the profits of the company. Also, tax deductions can be obtained through a simple and effective method, and that is the foundation in Serbia. Such entities are not subject to taxation in Serbia. Even though the tax structure in Serbia attracts foreign investors around the world, it is always a good idea to consider and implement tax minimization methods in the company, for future profits and benefits.

Still talking about taxes, you should discover the services offered by our accountants in Serbia. Payroll, bookkeeping, tax registration, and HR solutions are a few of the services recommended for small, medium, and large companies in Serbia.

Retirement plans in Serbia, as a tax minimization option

Another good method of tax optimization is opening a retirement account in Serbia. This option is used worldwide to cut the amount of taxes in the firms. Thus, the amount of money collected in this account cannot be taxed in full or even be exempt from taxes, under certain conditions. But to fully understand this tax optimization method, we advise you to contact one of our local consultants.

Deducting business travel expenses in Serbia

In general, business travel expenses are deducted and this is also valid for company owners in Serbia. Thus, it is necessary to keep all the travel documents and the receipts you received, so that later they are directed to the accounting department.
Thus, if you had a business trip and you obviously had expenses, you should know that they can be deducted. But more explanations in this regard can be provided by one of our tax specialists in Serbia.

Charity as a tax minimization option in Serbia

Opening a charity can be another alternative for reducing the amount of taxes in the firm. Donations are not taxed in Serbia, which is a benefit for local and foreign entrepreneurs. Therefore, if you are interested in this option of tax minimization, you can contact our company for more information in this regard. You can contact us if you want to open a company in Serbia, and need guidance for the formalities implicated in the process.

Information on taxation in Serbia

Serbia is among the few European countries with a favorable tax system. Many times, this criterion is considered the basis for opening a company in Serbia. Let’s review some interesting aspects of taxation in Serbia:

  • Depending on the income registered in Serbia, the income tax in Serbia ranges from 10% to 20% rate.
  • The VAT in Serbia is set at 20%.
  • The corporate income tax in Serbia is set at 15%.
  • In Serbia, there are no local taxes imposed on income.
  • Capital gains tax in Serbia is 15% rate.
  • The real estate income is levied at a 20% tax rate.
  • Taxpayers in Serbia can benefit from personal deductions of around 40% of the average annual wage.
  • Serbia has signed numerous double taxation agreements in order to avoid double taxation of the same income.

We suggest you discuss more about taxation in Serbia with one of our specialists. It is very important to know the legislation and to consider the taxation system before starting a company in Serbia.

Working with our local agents in Serbia

When you are interested in company incorporation in Serbia as a foreign investor, you must consider the support offered by a team with experience in this field. Our specialists take care of all the formalities in this regard and can also collaborate with the relevant authorities for the registration of the desired business structure. Thus, you will benefit from the guidance you need, without facing possible rejections in terms of documents and/or formalities. Moreover, starting a company in Serbia with our support can save time and allows you to concentrate more on the business investments you want to make in this country.

The following data about the economy of Serbia may be useful when you decide to open a business in this country:

  • The data for 2021 showed that Serbia recorded an economic growth of approximately 7.4%.
  • The private sector of Serbia recorded an increase of approximately 4% in 2022.
  • Industrial production also experienced an increase of approximately 1.5% in the same year, while in manufacturing there was an increase of around 1.7%.

If you need extra details about the tax minimization methods in Serbia, we invite you to contact our Serbian team of company incorporation specialists.