The non-taxable salary components increased to RSD 15,000 on January 1, 2018, an increase by RSD 3,210.
The biggest effect of the amendment to the Law on Income Tax
, by which the non-taxable salary components have been increased, should be felt by the 350,000 workers in Serbia being paid the minimum wage, the Government of Serbia points out.
To the end of continuing the fight against unemployment, exemptions for new employments will remain in effect until the end of 2019, with entrepreneurs being given the right to have 65% to 75% of the paid taxes and contributions repaid.
The key new feature in the amendments to the tax laws adopted in late 2017 is the implementation of incentives for beginners in business
, who will be exempt from paying income tax and contributions for mandatory social insurance in the year of the foundation of the company and the next year
The measures are to start being implemented in October 2018 and will pertain to entrepreneurs in the regime of personal income payment, the Government says.