Author: Tatyana Gracheva
17th Silk Road Tax Forum: Highlights Georgia’s Economic Vision
Lasha Khutsishvili, the Georgian Minister of Finance, gave a speech during the ‘17th Silk Road Tax Forum’, held at the joint initiative of the Revenue Service of the Ministry of Finance and the International Tax and Investment Center on 10-11 April, 2025. In his speech, he pointed out the critical role of interactions within taxation […]
Read moreEmployment tax incentives valid until the end of 2025
There have been various tax and social relief measures for employers hiring specific categories of workers in Serbia for several years now.
In general, the Personal Income Tax Act, the Social Security Contributions Act, and other by-laws define the conditions and procedures for claiming one of these seven tax relief measures. They extend two of them on a yearly basis, one is valid until the end of 2025, while four are unlimited.
Notably, an individual with whom an employer has signed an employment contract and who is registered for mandatory social security in the CROSO system is called a “newly employed person”. Nevertheless, if an employer affiliated with the current employer previously employed the person or the person is working for a currently existing affiliated entity, such employee is not a newly employed person.
According to tax advisor Svetlana Serafijanović, it is possible to use only one of the available tax incentives at a time throughout the entire duration of the measure.
Particularly, they apply tax incentives for hiring individuals from the National Employment Service (NES) to employers hiring individuals who were previously unemployed and registered with the NES.
Then, founders of companies engaged in innovation who employ themselves within their own enterprise can use tax incentives for hiring founders of innovation companies. The founders’ own company must employ them, and they must hold at least a five percent ownership stake. Moreover, legal entities must not have been affiliated by the employer or they must not generate more than 30 percent of their revenue.
This incentive fully exempts the employer from payroll tax and social security contributions for 36 months from the date of company establishment, with a maximum gross salary exemption of 150,000 dinars per month.
To use incentives for employees engaged in research and development (R&D), the employee must directly conduct research and development activities, excluding administrative or supervisory roles.
As tax advisor Serafijanović explains, the employer who is a legal entity conducting research and development within its operations for its own needs gets a 70 percent exemption from payroll tax and a full exemption from pension and disability insurance contributions till the end of the research project.
Next, highly qualified professionals relocating to Serbia for employment who have not predominantly resided in the country in the past two years and have a monthly gross salary exceeding 393,855 dinars can use incentives for newly relocated employees.
Finally, employees under the age of 40 returning to Serbia after studying abroad with the minimum gross monthly salary of 262,570 dinars get a 70 percent reduction in the tax and social security contribution base for five years from the date of signing the employment contract.
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Read moreAVERAGE MONTHLY NOMINAL EARNINGS OF EMPLOYEES (IV QUARTER, 2024)
In the IV quarter of 2024, the average monthly nominal earnings in Georgia increased by 8.5 percent (173.0 GEL) compared to the same quarter of the previous year and amounted to 2 217.5 GEL. According to the economic activity the highest monthly earnings were observed in the following fields: ⦁ Information and communication – 4 […]
Read moreGeorgia reduced visa-free travel for Ukrainians: new rules
Georgia has changed the rules of visa-free stay for Ukrainian citizens, reducing the period from three years to one. Find out who is affected by these changes, how they will affect Ukrainians in the country, and what to do for those planning a long-term stay or legalization. On April 3, 2025, the Prime Minister of […]
Read moreWhat employment tax incentives are valid until the end of 2025?
For several years now, Serbia has provided various tax and social relief measures for employers hiring specific categories of workers. These incentives aim to encourage employment and innovation in the economy while reducing unemployment. All current measures were introduced at the end of 2021 and came into effect at the beginning of 2022. So far […]
Read moreRemote workers increased by 19% in Kazakhstan
The number of remote workers in Kazakhstan has increased by almost 19% compared to last year, El.kz reports citing ranking.kz. According to data for the fourth quarter of 2024, 46.7 thousand people work remotely in the country. A year earlier, the growth was only 5.4%, which indicates a gradual increase in interest in the remote […]
Read moreJobs with the highest salaries in Serbia
The latest data from the Statistical Office of the Republic of Serbia for January report that some occupations deviate significantly from the country’s average salary.
For example, the production of coke and petroleum derivatives offers the highest average net salary, amounting to 330,000 dinars. Crude oil and natural gas extraction follows it with an average salary of 297,000 dinars.
Unsurprisingly, the field of information technology has been at the top spot in earnings in Serbia for many years. Particularly, software development stands out with an average salary exceeding 292,000 dinars, while some experts earn more than €5,000 per month.
Also, pilots traditionally get one of the highest salaries in the country (around 232,000 dinars).
The next field where salaries grow significantly is scientific research and development. This sector is one of the most promising career paths that offers the average salary equal to 206,000 dinars. This field is developing due to investing of substantial funds in scientific infrastructure.
The media and film industry sector can boast of the average salary exceeding 142,000 dinars. The increasing number of international productions choosing Serbia as a filming location explains the great potential of the cinematographic and television industry for high earnings.
Employees in management positions and consulting have an average income of approximately 170,000 dinars. The increasing need for expert advice in business management makes this field grow steadily.
Financial sector has traditionally been among the better-paid fields. Particularly, banking, insurance, and investment consultancy are prominent with an average salary of around 175,000 dinars.
Then, manufacturing and processing industry offers an average salary of 96,000 dinars. Although, tobacco product manufacturing stands out with the salary equal to 155,000 dinars, which proves that traditional industries can still be a source of significant income.
Marketing and market research come next, bringing an average salary of around 126,000 dinars. The increasing demand for marketing services and market analysis makes this field grow continuously.
Also, coal extraction (143,000 dinars), metal ore extraction (177,000 dinars), telecommunications (166,000 dinars), chemical production (124,000 dinars), and the production of basic pharmaceutical products (140,000 dinars) are among the highest-paying sectors.
Highly dynamic Serbian labour market is creating new opportunities for professional development. It is important to highlight that individual skills, experience, and specific competencies often influence salary levels. Other crucial factors in achieving high earnings in any sector are continuous improvement and keeping up with market trends.
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Read moreForeign workers in Kazakhstan: current statistics and employment sectors
569 individuals fall into the first category, holding managerial positions According to the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan, as of March 1, 2025, 13,584 foreign citizens are officially employed in Kazakhstan. Most of them are employed in construction, industry, and agriculture, Kazinform News Agency reports, citing […]
Read moreNorwegian Minister of Labor: More than 30% of Ukrainian refugees are already employed
About 30% of Ukrainians who have found refuge in Norway are already employed. The adaptation program helps them learn the language and culture for successful integration. Norway continues to successfully integrate Ukrainian refugees into the labor market. Currently, about 30% of Ukrainians staying in the country are already employed. This was stated by the Minister […]
Read moreThe highest-paid jobs in Serbia
The Serbian labour market has undergone significant changes in recent years, with certain professions offering exceptionally high salaries. According to the latest data from the Statistical Office of the Republic of Serbia for January, some occupations deviate significantly from the country’s average salary, creating new opportunities for professional development. From a statistical perspective, the highest […]
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