Republic Of Srpska: Amendments On Income Tax Law
Published date | 15 June 2021 |
Subject Matter | Tax, Income Tax |
Law Firm | Eurofast |
Author | Ms Andrea Peulic |
To the joy and satisfaction of many employees, the amendments to the Law on Income Tax of the Republic of Srpska are to increase the personal income of all workers. The minimum wage is now 540.00 KM, and the amount of non-taxable income is changed from 500 KM to 700 KM.
The Law on Amendments to the Law on Income Tax that was published in the "Official Gazette of the Republika Srpska, No. 49/21″and enters into force on July 1st, 2021, increases the basic personal deduction of the personal income tax base from 6,000 to 8,400 KM per year, which amounts to 700 KM per month.
On top of the above, the amount of the basic personal deduction of the tax base on the basis of dependent members of the immediate family has been increased from 900 to 1,800 KM per year, i.e. the monthly amount of...
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