The limit for annual tax for 2019 amounts to RSD 2,729,304. The data is used to determine applicable annual income tax thresholds for 2019.
Total net income of an individual generated in calendar 2019 is taxable progressively as follows:
- taxable income generated up to RSD 2,729,304 – non-taxable;
- taxable income generated up to RSD 5,458,608 – subject to 10% tax rate;
- taxable income exceeding RSD 5,458,608 – subject to 15% tax rate.
The annual taxable base for 2019 may be reduced by the following personal deductions (but cannot reduce taxable income for more than 50%):
- reduction for a taxpayer: RSD 363,907;
- reduction for each dependent family member of a taxpayer: RSD 136,465.
The deadline for submission of annual income tax return for 2019 is 15 May 2020.
For any further clarifications, TPA team is at your disposal.
