Very often, when the owner moves to another country, the business of his/her company in Serbia continues, more or less, unchanged. To continue doing business in Serbia, it is important to take into account the following tax facts:
- Calculation and payment of corporate income tax, where the corporate tax rate is 15%;
- When paying dividends to the founder – an individual, who is now a tax resident of another country, company has the obligation to submit a tax return and pay withholding tax at a rate of 15% of the gross dividend, unless otherwise defined by international agreement;
- Calculation and payment of VAT liability on a monthly or quarterly basis, as long as the company is in the VAT system;
- Also, in case the company has an employee, the obligation to pay the related taxes and contributions also continues to exist as long as the company has employees, regardless of the fact that the founder has changed his tax residence;
- On the other hand, if the company is a taxpayer of property tax and / or a taxpayer for the payment of environmental protection, this obligation continues as long as the company operates in the territory of Serbia.
TPA, as part of the Baker Tilly global audit and consulting network, can assist its clients in all tax aspects of relocating or starting a business abroad.