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Serbia Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
7,078,110 (July 2018 est.)GDP (PPP)
$105.7 billion (2017 est.)The economy is recovering after the war in the 90s. In 2015, Serbia’s GDP was 27.5% below where it was in 1989.
GDP growth rate
1.9% (2017 est.)A bit low compared to other economies in the Balkan area. Furthermore, there have been many fluctuations over the past few years
GDP (PPP) per capita
$15,100 (2017 est.)Among the lowest in Europe
Local currency
Serbian dinar (RSD)Stable for the past 5 years (pegged to EUR)
Financial stability (Public debt)
62.5% (2017 est.)Medium to low, public debt/GDP ratio has shrunk strongly in the last year
Inflation
3.1% (2017 est.)Slightly high, but stable over the last 4 years
Language
Serbian (official)English is spoken as a second language in the main urban areas
Corruption perception index (Source: Transparency International)
Rank 87/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% standard VAT rateReduced rates apply: 10% (basic food stuffs, daily newspapers, medicines, publications, public transportation services, utilities, etc.), 0% (export of goods, transport and other services directly related to exports, international air transport, etc.)
Corporate Tax
15% standard corporate tax rate
Duties
Customs duty rates in Serbia range from 0% to 57.6%, with most being under 30%
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