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Jun 15, 2016

Taxes are generally high in the Netherlands


INDIVIDUAL TAXATION

Nonresidents are taxed on their income from Serbian sources. Married couples are taxed separately.

INCOME TAX

Rental income and capital gains earned by nonresidents are taxed at a flat rate of 20%. Income-generating expenses are deductible when computing for the taxable income.

RENTAL INCOME
Rental income earned by nonresidents is subject to provisional withholding tax at a flat rate of 20%. A fixed lump-sum deduction from the gross income is available for income-generating expenses. A 25% fixed lump-sum deduction applies for a lease, and a 20% fixed lump-sum deduction applies for a sublease.

CAPITAL GAINS
Serbia Belgrade properties for saleCapital gains realized by nonresidents from the sale of Serbian property are taxed at a flat rate of 20%. The taxable gain is the selling price less the acquisition price (as revalued by the consumer price index) and depreciation costs.

Any capital gain realized through a sale of property obtained before 24 January 1994 is exempt from capital gains tax.

Transfers of property between relatives are exempted from capital gains tax. In addition, if the capital gain is invested in housing within a 60-day period, the gain is also exempt from tax.


PROPERTY TAX


Real Estate Tax

Property tax in Serbia is paid by the individual owner of the property or property rights. Property tax is generally levied at progressive rates.

PROPERTY TAX 2014

TAX BASE, RSD ()
TAX RATE
Up to 6 million (48,000) 0.40%
6 million 15 million (120,000) 0.80% on band over 48,000
15 million 30 million (240,000) 1.50% on band over 120,000
Over 30 million (240,000)

3% on all value over 240,000

Source: Global Property Guide

PROPERTY TAX 2015

TAX BASE, RSD ()
TAX RATE
Up to 10 million (80,000) 0.40%
10 million 25 million (200,000) 0.60% on band over 80,000
25 million 50 million (400,000) 1% on band over 200,000
Over 50 million (200,000)

2% on all value over 400,000

Source: Global Property Guide

Property tax is levied on the property value at a flat rate of 0.40% for businesses.






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