Annual Personal Income Tax Due By May 15, 2015

The Official Gazette of Republic of Serbia No. 28/2015 published on March 20, 2015, announced the amendments to the Rulebook on the tax return form for the assessment of personal income tax due (hereinafter 'the Rulebook'). The Rulebook is in force as of March 21, 2015 and the main changes are outlined:

Annual personal income tax return in general

Pursuant to the Personal Income Tax Act (hereinafter 'PIT Act'), individuals are obligated to submit the annual personal income tax return (hereinafter 'API tax return') in Serbia for 2014 using the updated form as follows:

Resident individuals, who have generated over RSD 2,211,336 (approx. EUR 18,500) income world wide during 2014 Non-resident individuals, who have generated over RSD 2,211,336 from Serbian based sources during 2014. The API tax return for 2014 must be submitted by May 15, 2015, whereby:

Until March 31, 2015, the API tax return is submitted in paper From April 1, 2015 until May 15, 2015 the API tax return can be submitted only electronically. Submission of the API return after the recent amendments

The new API tax...