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The Government of the Republic of Serbia

In the service of citizens

Deadline for submitting income tax returns for citizens March 15

Belgrade, 18 January 2006

Head of the Serbian Tax Administration Vladimir Ilic said today that the deadline for submitting income tax returns for citizens is March 15, and is payable for all those who in the previous year realised an income higher than four times the average income in the Republic of Serbia, which amounts to 1.2 million dinars.

Vladimir Ilic

Speaking at a press conference Ilic said that the deadline for submitting single tax returns is January 31 and that they must be submitted by the payer of the income and explained that the tax return will contain information on the calculated and paid tax after deduction of the income for each payee.

He further explained the criteria of taxable income specifying that it is the sum of income, taxable income realised from independent business activity, copyrights and industrial property rights, real estate, leasing or renting of movable property, sale of life insurance, as well as income realised abroad.

Ilic said that the annual income tax payable by citizens is set at a rate of 10% and recalled that nontaxable income in 2005 was a sum less than 986.640 dinars.

He said that the percentage of those temporary banned from doing business due to irregularities in the registration of turnovers through fiscal registers in January doubled, and added that the figure of those closed down due to irregularities in 2005 rose from 12% to almost 22% in January.