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The founders of innovative companies established after March 1 in Serbia will be exempt from paying taxes and contributions on monthly earnings up to RSD 150,000 (EUR 1,277) gross over a three-year period, reported state news agency Tanjug. 

Photo by Olivier Le Moal/Shutterstock.com

The new incentive introduced by the Serbian government aims at stimulating the launch and development of innovation companies. To be eligible, a company founder must have a minimum 5% stake in the company and must not be affiliated with any legal person.

Jelena Bojović, regulatory reforms director at the National Alliance for Local Economic Development (NALED), told Tanjug the measure was a follow-up to a government incentive initiated by NALED in 2018 that enabled an exemption from taxes and contributions on earnings for newly-established companies, entrepreneurs in the personal income system and farming entrepreneurs.