Dec 14, 2023 1 min read

Serbia revises minimum net pay, non-taxable amount and social security base

Changes in minimum net pay

As per “Official Gazette of RS” number 79 of 15/09/2023, the minimum hourly net wage is revised from 230 RSD to 271 RSD per working hour. The revised hourly net wage shall also be applicable for arrear payments.

Minimum hourly wageNet RSDGross RSD
for a month with 160 working hours43,360.0058,288.16
for a month with 168 working hours45,528,0061,380.89
for a month with 176 working hours47,696.0064,473.61
for a month with 184 working hours49,864.0067,566.34

Changes in non-taxable amount

Pursuant to Article 15a of the Law on Personal Income Tax (“Official Gazette of RS” numbers 24/01, 80/02, 135/04, 62/06, 65/06, 31/09, 44/09, 18/10, 50/11, 91/11, 93/12, 114/12, 47/13, 48/13, 108/13, 57/14, 68/14, 112/15, 113/17, 95/18, 86 /19, 153/20, 44/21, 118/21, 138/22 and 92/23) the non-taxable amount of salary has been amended to 25,000.00 RSD per year.

Changes in social security base

As per “Official Gazette of RS” number 104/2023, the mandatory social insurance ceiling and floor limits will be amended to 573,470.00 RSD (being 114,694.00 x 5) and 40,143.00 RSD (being 114,694.00 x 35%) respectively.

The above amendments will be effective on 01 January 2024.

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change

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