Serbia: An Overview
Nestled in the heart of the Balkans, Serbia is a landlocked country with a rich history and a vibrant culture. With a population of approximately 6.8 million, Serbia is the largest country in the former Yugoslavia. Its capital city, Belgrade, is a bustling metropolis that serves as the country's political, economic, and cultural hub.
Throughout its history, Serbia has been a crossroads of civilizations, leaving behind a legacy of diverse architectural styles, from medieval monasteries to Ottoman mosques. The country is renowned for its natural beauty, with stunning mountains, pristine lakes, and meandering rivers.
Recent Economic Developments
Serbia's economy has undergone significant transformation in recent years. After experiencing a period of economic stagnation following the breakup of Yugoslavia, the country has embarked on a path of steady growth and development.
One of the most notable recent economic developments in Serbia is the country's accession to the European Union (EU) in 2012. This has opened up new opportunities for trade and investment, and has helped to boost Serbia's economic growth.
Another significant development is the country's growing tourism industry. Serbia is home to a wealth of historical and cultural attractions, and is increasingly becoming a popular destination for tourists from around the world.
Tax Law Changes
In recent years, Serbia has implemented a number of changes to its tax legislation. These changes have been designed to simplify the tax system, reduce the tax burden on businesses, and attract foreign investment.
One of the most significant tax law changes in Serbia is the introduction of a flat tax rate of 10% on corporate income. This has made Serbia one of the most competitive tax jurisdictions in Europe.
Another important change is the introduction of a new tax on value added (VAT). The VAT rate is currently set at 20%, and is applied to most goods and services.
These tax law changes have been welcomed by businesses and investors, and are expected to contribute to Serbia's continued economic growth.
If you are considering doing business in Serbia, it is important to be aware of the country's tax laws. Heavnn can help you to understand the tax implications of your business activities in Serbia, and can assist you with tax planning and compliance.
Click the button below to learn more about how Heavnn can help you with your tax planning in Serbia.
