Business in Serbia

Exemption from VAT on the sale of goods intended for the personal needs of diplomatic agents, consular officials, staff members of international organizations, as well as the right of foreign nationals to refund VAT

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LAW ON VALUE ADDED TAX (“Official Gazette of RS”, No. 84/2004, 86/2004 – amended, 61/2005, 61/2007, 93/2012, 108/2013, 6/2014 – harmonized, 68/2014 – other law, 142/2014, 5/2015 – harmonized, 83/2015, 5/2016 – harmonized, 108/2016, 7/2017 – harmonized, 113/2017, 13/2018 – harmonized, 30/2018, 4/2019 – harmonized, 72/2019, 8/2020 – harmonized and 153/2020) Article 24, paragraph 1, […]

Foreign Companies

Continental

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German`s car parts manufacturer – Continental will open a 140 million euro worth factory for manufacturing car electronics. Since 2018, they hired over 500 employees. This investment will create 500 new jobs in Novi Sad, capital of Vojvodina.

Business in Serbia

Public Holidays in Serbia in 2021

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Non-working public holidays in 2021 New Year’s Day – 1 and 2 January (Friday and Saturday) Julian Orthodox Christmas – 7 January (Thursday) Serbian Statehood Day – 15 and 16 February (Monday and Tuesday) Orthodox Easter Holidays – 30 April, 1-3 May (Friday – Monday) May Day – 1, 2, 3 and 4 May (Saturday […]

Business in Serbia

VAT in Serbia

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The Value Added Tax or VAT is an indirect, consumption tax assessed on the value added to goods and services. It applies to the production and distribution of goods and services. If the annual turnover of a company is less than 8 million dinars the company does not have to charge VAT on its sales. […]

Law

Value added tax law

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  Unofficial translation, just for information purposes RS Official Gazette, 84/2004, 86/2004, 61/2005, 61/2007, 93/12, 108/13, 68/14, 142/14, 83/15, 108/16 VALUE ADDED TAX LAW I. INTRODUCTORY PROVISIONS Article 1 This Law shall introduce the value added tax (hereinafter: VAT) in the Republic of Serbia (hereinafter: the Republic). The VAT shall mean a general consumption tax […]

Economic News

Turkey’s COVID-19 Response

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The world economy suffers due to coronavirus pandemic. Almost every country on the planet experience a decline in economic activity. The International Monetary Fund compares it with the Great Depression of The 1930s when many people lost their jobs, houses and couldn`t afford a proper meal. Change in economic indicators 1929–32   United States United […]

Economic Geography

Economy of Turkey

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Turkey takes the 33rd place on ease of doing business list (World Bank). GDP US $744 billion (nominal 2019) $ 2.4 trillion (PPP; 2019) • Per capita $ 8958,00 GDP Growth: 2.8% (2018) 0.9% (2019) Public Debt/GDP: 26.5% of GDP (2017) Unemployment 13.6% (April 2020) Inflation: 12% (2020) (Source:Wikipedia) Main industries: textiles, food processing, rock […]