Serbia revises minimum net pay, non-taxable amount and social security base
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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 wage | Net RSD | Gross RSD |
|---|---|---|
| for a month with 160 working hours | 43,360.00 | 58,288.16 |
| for a month with 168 working hours | 45,528,00 | 61,380.89 |
| for a month with 176 working hours | 47,696.00 | 64,473.61 |
| for a month with 184 working hours | 49,864.00 | 67,566.34 |
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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