Vucic: No taxes on salaries for citizens under the age of 40, 70% relief for companies that did not reduce the number of employees

Serbia will abolish the tax on salaries that are above the average for those under 40, announced President Aleksandar Vucic.

As he added, the state will introduce a three-year exemption of 70% on the employee salaries, for those employers who do not reduce the number of employees for three years.

- That will lead to employment growth. That will motivate employers to employ young people - Vucic added.

As he added, in the first five months, foreign direct investments were 12.7% higher compared to the same period last year.

The President stated that Serbia was in third place in Europe in the first quarter, with a growth of 1.7%.

- Only Estonia and Luxembourg are ahead, not counting Ireland. We expect the highest growth in the second quarter, it should be between 12 and 16% - said Vucic and added that Serbia has raised gold reserves to 36.3 tons, and that the goal is over 50 tons.

Aleksandar Vucic

tax exemption

tax reliefs