Corporate profit tax in Serbia is determined through taxpayer self-taxation and the adjustment of accounting profit, shown in financial statements, which are prepared in compliance with the MF Rulebook or IFRS (International Financial Reporting Standards), to non-recognized expenses and non-taxable income...
The Law on Accounting (“Official Gazette of the Republic of Serbia” no. 73/2019 and 44/2021) regulates the deadlines for the submission of financial statements to be made public, which indicates that legal entities, i.e. entrepreneurs with turnover, i.e. statements of inactivity were obliged to submit financial statements to the Business Registers Agency by March 31 for statistical purposes and publishing.
When it comes to paying withholding tax on royalties paid out by a resident legal entity to a non-resident legal entity, there are only two cases, i.e. only two countries which concluded double taxation avoidance agreement with the Republic of Serbia, which prescribes that the tax on royalties shall not be paid in the Republic of Serbia, i.e. that the other contracting country has the right to impose taxes on this revenue.
