ANNUAL PERSONAL INCOME TAX FOR THE YEAR 2024
Individuals - residents, as well as non-residents (for the income earned on the territory of the Republic of Serbia), are obliged to pay Annual Personal Income Tax, if their annual net income, earned in 2024 exceeds the amount of RSD 4,874,508.Taxation of income is carried out at progressive rates in such a way that the tax rate of:
- 10% is applied for taxation of yearly taxable income up to RSD 9,749,016;
- 15% is applied for taxation of yearly taxable income in the amount exceeding RSD 9,749,016.
- salary;
- taxable income from entrepreneurial activity; and
- taxable income from copyrights and related rights and industrial property rights.
- taxable income from immovable property;
- taxable income from lease of movable properties;
- taxable income of athletes and sports experts;
- taxable income from hospitality services;
- other taxable income;
- income of residents realized and taxed in another state.
- 40% for a taxpayer – RSD 649,934;
- 15% for a dependent family member – RSD 243,725.
If a taxpayer makes an investment in an alternative investment fund, i.e. in the purchase of an investment unit of an alternative investment fund, he/she is entitled to a tax credit on account of annual personal income tax up to 50% of the investment made in the calendar year for which the annual personal income tax is determined. The tax credit cannot be higher than 50% of the determined tax liability based on the annual personal income tax.
Note: A taxpayer who disposes shares in AIF i.e. disposes investment units of AIF, in the calendar year in which he made the investment, as well as in the following three years, loses the right to the used tax credit based on that investment. The taxpayer will be obliged to inform the competent tax authority about the loss of the right to the tax credit within 30 days, from the day of the loss of the right, as well as to pay the obligation in the name of the previously used tax credit with accrued interest from the due date for payment of the annual personal income tax for the year in which he lost the right to a tax credit.
The aforementioned limitation will be applied starting from the beginning of the period for determining the annual personal income tax for 2024.
The deadline for submission of tax return for annual personal income tax for the year 2024 is 15 May 2025. Tax return is submitted only in electronic form via the Tax Administration portal. If the taxpayer does not submit the tax return within the legal deadline, the Tax Administration will submit the tax return on his behalf. Penalty interest will be calculated from the moment of submitting the tax return by Tax Administration.