April 13. 2024. 6:24

The Daily

Read the World Today

Serbia’s self-employed to soon benefit from a simplified online tax system

Freelancers will soon benefit from a new self-taxation model through a reporting portal that will be available in the second quarter of the year.

Serbia houses about 10,000 registered freelancers who generate income by cooperating with domestic and foreign individuals, as well as with foreign companies. In the past, the income taxation of freelancers had been an issue.

Now all freelancers will be able to report taxes online and will not have to pay interest, Ivan Radak from Naled told RTS.

“Then they will be able to apply for insurance electronically, they will receive a simple payment slip, with an invoice,” he added.

Freelancers can now submit an application on the existing application or wait for the portal to start operating.

“The PP OPO tax return exists, and the PP OPO-K is a return that will be filled out via the portal,” Radak told Serbian Radio-Television.

There are two options for freelancers, one is lower for incomes less than 160,000 dinars, and the other is better applicable for incomes higher than that.

The tax is now around 20% for option two and was over 40%, while it is 6-7% for initial amounts.

On the so-called “Freelancers” portal, users can assess whether they can be taxed under the freelancer model, and find out what option is the most favourable once the provided fields are filled out. The tax will be calculated in dinars.

“You can open your account on the portal and enter your income regularly, and the system will process it all. It’s very simple, anyone can use it,” said Radak.

(Milena Antonijević | EURACTIV.rs)