Serbia: Worked Example of Tax on Rent
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Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | €1,500 | €6,000 | €12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Standard Costs2 | (3,600) | (14,400) | (28,880) | |
| = Taxable Income | 14,400 | 57,600 | 115,200 | |
| Income Tax Rates3 | ||||
| Flat Rate | 20% | 2,880 | 11,520 | 23,040 |
| Annual Income Tax Due | €2,880 | €11,520 | €23,040 | |
| Tax Due as % of Gross Income | 16% | 16% | 16% | |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on August 24, 2007.
Notes
1 The property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).
2 A standard deduction of 20% from the gross income is given to cover income-generating expenses. However, a taxpayer can opt to deduct actually incurred expenses instead of availing the standard deduction.
3 Non-resident foreigners are taxed at 20%.
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