Income tax for individuals in 2024

Annual personal income tax refers to the taxation of income of individuals who, in a calendar year, earned an income exceeding three times the average annual salary per employee paid in the Republic of Serbia for that year. In fact, it is an extra tax paid once a year by everyone with a net income exceeding the average. The income on which the additional annual tax is paid is determined each year in relation to changes in salaries at the republican level.

Individuals who earned in 2024 an income over 4,874,508 dinars are required to file a tax declaration for the annual personal income tax. Namely, if the taxpayer has earned taxable income in an amount that:

– is not higher than 9.749.016 dinars then the tax rate is 10%;

– is higher than 9.749.016 dinars then the tax rate is 15% .

When preparing the tax declaration, the residents of Serbia take into account the income they earned both in Serbia and in other countries, while non-residents take into account only the income earned in Serbia.

Taxpayers who were under the age of 40 by the end of 2024 are entitled to a tax base reduction of three average annual salaries per employee in Serbia, or in other words – twice the non-taxable amount.

Taxable income:

• Earnings
• Income from self-employment
• Copyright revenue
• Income from real estate
• Income from the lease of movable property
• Income of athletes and sports professionals
• Other taxable income

Dividends are not included in the annual income tax base.

The deadline for submitting the tax declararion for the annual personal income tax based on income earned in 2024 is May 15, 2025.