If you want to approximately determine an amount of the annual personal income tax for 2023, below is the new taxation scale:
| Total net income realized in 2023 (amounts in RSD) | Liability for taxpayers under 40 years of age | Liability for taxpayers over 40 years of age | Tax rate |
| up to 4,269,564 (non-taxable amount) | No liabilities. | No liabilities. | – |
| from 4,269,564 to 8,539,128 | Filing a tax return. | Filing a tax return and tax payment. | 10% |
| from 8,539,128 | Filing a tax return and tax payment. | Filing a tax return and tax payment. | 15% |
| Amounts of personal deductions * | For a taxpayer (40% of AAS**) – 569.275 RSD For a dependent family member (15% of AAS**) – 213.478 RSD |
* The total amount of personal deductions cannot exceed 50% of taxable income.
** AAS – average annual salary per employee paid in the Republic of Serbia in 2023 (1,423,188 RSD), according to the data of the republican authority responsible for statistics.
The deadline for submitting the tax return (and at the same time paying the tax liability) is 15th May 2024.
A taxpayer who makes an investment (full payment of monetary funds) in an alternative investment fund, i.e. in the purchase of an investment unit of an alternative investment fund, is entitled to a tax credit related to the annual personal income tax up to 50% of the investment made in 2023. The tax credit cannot exceed 50% of the determined tax liability based on the annual personal income tax.
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If you need assistance with preparing and submitting your annual income tax return or if you are interested in organizing a presentation for your employees, please feel free to contact us by e-mail at: office@gclegaltax.com.
The legal team of the GCLegalTax Law Office
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