ACCOUNTING in Serbia

We partner with experienced licensed Serbian accountants to provide accounting services, including bookkeeping, financial report preparation, and tax compliance.

An accountant is mandatory for both LLCs and Sole Proprietorships, except for Sole Proprietorships under the flat-rate tax system.

Accountants need a license to work in Serbia, so our accounting services are provided in collaboration with the licensed Serbian accounting company Business Book.

In Serbia, there are two tax systems for Sole Proprietorships:

1. Knjigash(with an accountant) - This system has a 10% income tax. An accountant is mandatory. Bookkeeping can be with or without payroll.
   

2. Paushal (simplified tax system) - This is a fixed-rate tax system. An accountant is not mandatory. It is available for entrepreneurs with a turnover of up to 6,000,000 dinars per calendar year.

The Paushal tax system, also known as the simplified tax system, allows entrepreneurs and small companies to pay taxes based on a fixed rate without the need for complex bookkeeping and financial reporting.

It is available for entrepreneurs with a turnover of up to 6,000,000 dinars per calendar year.

However, it requires maintaining a KPO book, which is a simple table form for recording all company receipts for each calendar year.

LLCs are required to pay a 15% corporate income tax, a 20% value-added tax (VAT) with exceptions depending on the type of activities, as well as personal income tax and social contributions for their employees.

Generally, an LLC is required to pay corporate income tax and dividends, VAT if registered, personal income tax and social contributions for employees, and property or rental tax if applicable.

Supervision of accounting activities is carried out by the Ministry of Finance and the Tax Administration (Poreska uprava), and the license (dozvola) for activities is issued by the Chamber of Authorized Auditors of Serbia.

• How to choose the legal form of a company in Serbia and the tax system

• Which tax system suits my Sole Proprietorship better: flat-rate or bookkeeping

• How to optimize the tax burden

• How much will monthly accounting services cost

• When can I do without an accountant

• When does my Serbian company need a cash register

• How to connect a cash register in Serbia

• How to order a terminal for card payments in Serbia

• How to correctly fill out a receipt in a Serbian bank

• Can I be an unemployed director

• What are the minimum social contributions I need to pay

• Can I be employed without a work permit

• Can I legally work without a residence permit or permanent residence

• How to get acquiring services in Serbia

• When does my company need to pay VAT