Serbia Amends Social Security Contributions Law and Tax Procedures and Administration Law

On 16 December 2018, a law on amendments to the Law on social security contributions entered into force in Serbia. Key changes include:

• The minimum contribution base is set at 35% of the average monthly earnings in Serbia and the maximum basis is set at five times the average monthly earnings (to be published by authority);
• The contribution for unemployment insurance is reduced from 1.5% to 0.75%; and
• A 12-month social security contribution exemption is introduced for newly established comp…