Starting in 2025, Serbia is implementing significant amendments to the Personal Income Tax Law, affecting employers, employees, and specific professions such as seafarers. The key changes include:
1️⃣ Increase in the non-taxable salary amount – Raised from 25,000 RSD to 28,423 RSD, reducing the tax base and employer obligations. No contract amendments are required, but payroll calculations must be adjusted.
2️⃣ Extension of tax incentives for newly employed individuals – Employers hiring new employees can receive a refund of 65-75% of paid taxes and contributions, with this measure extended until December 31, 2025.
3️⃣ Tax treatment of seafarers’ income – Seafarers who spend more than 174 days per year on ships are exempt from paying income tax. The tax rate is 10%, and the tax return must be filed by March 31 of the following year.
4️⃣ Increase in non-taxable per diem for business trips abroad – The new non-taxable maximum has been raised from 50 EUR to 90 EUR, but employers are not required to increase per diems unless specified in internal policies.
5️⃣ Changes in tax incentives for investments in AIFs – Taxpayers investing in Alternative Investment Funds (AIFs) must hold shares for at least three years to maintain their tax credit. Otherwise, they will lose the credit and must pay tax with interest.
6️⃣ Minimum gross salary requirements for foreign workers and returnees – To qualify for tax incentives, the gross salary of these employees must align with new minimum amounts, potentially requiring employment contract adjustments.
7️⃣ Adjustment of non-taxable amounts – Non-taxable amounts for per diems, transportation allowances, and freelancer standardized expenses have been adjusted based on the 2024 Consumer Price Index, effective February 1, 2025.
If you need expert assistance with tax calculations, interpreting new legal provisions, or optimizing your business, Tax International , a bookkeeping agency from Novi Sad, is here to help. Contact us to find the best solution for your business!
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