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The Government of the Republic of Serbia

In the service of citizens

Youth employment measures yield excellent results in first three months

Belgrade, 1 June 2022

The Serbian government stated today that during the first three months of implementation of new tax reliefs for employment, especially of the youth, and for innovative companies, which came into force on 1 March this year, there has been great interest from companies.

The incentive, which is primarily intended for easier employment of young people, was used by 910 people employed by 553 employers from the beginning of March until the end of May.

This relief implies an effective reduction of taxes and contributions on the salaries of new employees by as much as 70 percent by the end of 2024.

The second tax relief, for employees on research and development projects in companies in Serbia was used by 434 people employed by 41 employers in the same period.

This relief implies an effective reduction of taxes and contributions on the salaries of employees by as much as 70 percent for a part of the salaries of employees in proportion to the time they spent on research and development work.

This result is very significant, bearing in mind that this measure is directly intended for young people who get their first job.

The Serbian government remains committed to further improving Serbia's business climate, fighting for jobs and creating opportunities for young people, as well as to digitalisation and high technology, which it believes will greatly help the transition of the domestic economy to a knowledge-based and innovative economy.