Karanovic & Nikolic

Tax newsletter: Serbia — July 2013

Following the last amendments to the tax laws (which we covered in our tax news from June 2013), the Ministry of Finance has since prepared several rulebooks to help implement the amended legal provisions.

Among these, the Rulebook on Transfer Pricing is the most important. Other rulebooks of the Ministry prescribe new forms of tax returns for tax payable on capital gains and income from the lease of movable and immovable assets, and newly introduced withholding tax on income from the sale of scrap and waste. In the area of personal income tax new forms of tax returns have been introduced for personal income tax, mandatory social security contributions and property tax.

The Republic of Serbia continues to expand the network of treaties on the avoidance of double taxation (DTT). The DTT with the United Arab Emirates will begin to apply starting from 1 August 2013, while the law on the ratification of the DTT between Serbia and the Kingdom of Morocco, which was signed on 6 June in Belgrade, is currently before parliament…

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