Tax year is the calendar year but may be shorter than 12 months where activities start or terminate during a calendar year or there is a change in the status of the entity.
A legal entity is considered resident if it is incorporated in Serbia or managed or controlled from Serbia. Resident entities are taxed on their worldwide income; non-residents are taxed only on income generated in Serbia. The taxable base is calculated in the tax balance sheet, based on the profit and loss account adjusted for tax purposes.
Tax filling in Serbia is based on self-assessment. Advance corporate tax is payable in monthly instalments. A tax return and tax balance must be filed within 180 days after the end of the tax period for which the tax return is filed or 15 days from the deadline for submission of financial statements in case of a change of status, bankruptcy or liquidation.
The CIT rate is 15%.
It is our aim at NDP Audit & Consulting to minimise the tax liabilities of our corporate clients. We do this by understanding our client’s business and providing tailored practical and relevant tax advice. We provide advice on the best way for the business at every stage of the company’s development ranging from start up to expansion into overseas markets. We provide an excellent tax compliance service ensuring that all revenue requirements with regard to filing and tax payment deadlines are met and that our corporate clients are availing of all possible tax reliefs currently available to them.
We provide explanations related to what can be treated as tax expense and in what amount in accordance to the Law, so the client can project future tax result, usually different from the financial result.