Income tax on rent, worked example, in Serbia
June 15, 2016
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1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 125.00 RSD
3 A standard deduction of 25% 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,
4 Rental income of nonresident foreigners is taxed at a flat rate of 20%.