Start legally - the second info day about tax exemption measure for new businesses

On Thursday, 11 October at Novi Sad Fair, the second info day was held for public administration officers regarding the implementation of tax exemption measure for new businesses, whose aim is to encourage legal entrepreneurship among young, recently graduated high school or college and faculty students, as well as the unemployed persons registered by the National Employment Service.

The representatives of Tax Administration presented the novelties introduced by the tax exemption measure, as well as the rights and obligations of beneficiaries and the manner of exercising the right to this incentive. The participants had an opportunity to hear more information from the Guide for implementation of tax exemption measure, and provide their own contribution in finalizing this document.

The amendments to the Law on Personal Income Tax and Law on Contributions for Mandatory Social Insurance adopted in December last year launched the exemption from labour taxes and contributions for new businesses starting from 1 October 2018, and they will be exempted from paying these liabilities during their first year of work. The right to this exemption is provided during a period of 12 months from the date of registration of a company or entrepreneur.

After Novi Sad, info days will also be organized in Novi Pazar (23 October), Niš (25 October) and Kragujevac (29 October), in order to have all relevant stakeholders timely informed about the details regarding the tax exemption measure.