The Value Added Tax (VAT) in Serbia
October 21, 2022 - read
The Value Added Tax (VAT) in Serbia is applied to the supply of goods and services offered on the market, and to imported products, but there are also categories of goods that are exempt from such taxation.
What is Value Added Tax (VAT)?
The Value Added Tax (VAT) in Serbia is applied to the supply of goods and services offered on the market, and to imported products, but there are also categories of goods exempt from such taxation. When opening a company in Serbia, one must align with the requirements of the tax regime in this state, including VAT for which a firm must be registered before it begins operations.
What are the tax rates?
The standard VAT rate is 20%, and a lower VAT rate of 10% applies to special categories like basic food, medicines, bottled water, computers, public transportation, utilities, newspapers, and magazines.
What is the tax period for which VAT is calculated?
The tax period for VAT can be calculated monthly or quarterly.
How long do VAT refunds take?
The VAT refund is made within 45 days at the latest, i.e. within 15 days for taxpayers who mainly sell goods abroad, after the deadline for submitting the tax return.
What are VAT exemptions in Serbia?
In Serbia, there are certain categories of goods and services which are not subject to VAT, such as:
- The export of goods
- International air transport
- Education
- Medical services
- Financial services
- Charity
- Culture and entertainment
- Gambling and lottery services