Serbia: Individual income tax returns for 2021 due 16 May 2022

The deadline for filing annual individual (personal) income tax return for 2021 is 16 May 2022.

The deadline for filing annual individual income tax return for 2021 is 16 May 2022

Tax residents in Serbia report their world-wide income, but individuals who are not residents in Serbia report their income earned on the territory of Serbia.

The deadline for filing annual individual (personal) income tax return for 2021 is 16 May 2022.

In general:

  • Individuals whose total personal net income in 2021 exceeds RSD 3,268,224 (approximately U.S. $30,650) (non-taxable amount) are required to file an income tax return.
  • There is a reduction allowed for taxpayers younger than 40 years of age.
  • Also, there is a reduction allowed for taxpayers required to file an individual income tax return and who are younger than 40 years of age on the last day of the calendar year 2021, with regard to qualifying net income from employment, self-employment, copyright and related rights, and industrial property rights. The reduction is RSD 3,268,224 (approximately U.S. $30,650) (three average annual salaries per employee paid in Serbia in the tax year).
  • The total individual net income earned in calendar 2021 and the non-taxable amounts are reported in the tax return, with the difference representing taxable income.
  • Taxable income is reduced by the amount of certain personal deductions. The remaining amount represents income for taxation to which the prescribed tax rates are applied.

Read a March 2022 report prepared by the KPMG member firm in Serbia

 

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