Corporate income tax consulting
Corporate income tax (CIT) represents a type of direct tax which is imposed on the profit of companies, partnerships and other legal entities generating income from sale of goods and rendering services on the market.
In Serbia, 10% CIT is levied on profit determined under International Financial Reporting Standards (IFRS) and adjusted in accordance with corporate income tax rules. Some of the major adjustments prescribed by the CIT Law are related to partial or full non-deductibility of certain types of expenses, such as: non-business and non-documented expenses, marketing and propaganda expenses above 5% of total revenue, long-term provisions, write-off of receivables, impairment etc.
We appreciate the importance of managing both the global and local tax position of companies. This requires careful planning, structuring and compliance, taking into consideration local CIT and withholding tax (WHT) circumstances as well as the regional/international tax environment.
Your situation:
- You need practical advice fully tailored to your business needs based on review of tax aspects and all other aspects which may be of importance in particular business situations (e.g. accounting, legal, HR);
- You wish to ensure full compliance with Serbian regulations and optimizing tax deductions;
- You need review and evaluation of tax implications of planned business decisions;
- Your current tax position requires identification of tax risks and suggestions for efficient modification of business transactions (if possible).
Our services:
- Advising on the tax implications of company transactions (planned or already implemented);
- Interpretation of corporate income tax rules in terms of your company’s particular situation;
- Keeping up-to-date with new tax developments affecting your business;
- Formulating and implementing effective and tax efficient cross-border strategies;
- Income tax treaties, financing and profit repatriation, loss utilisation;
- Advising on modification of business structure or transaction in tax efficient manner.
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