Government: New measures for youth employment and returning expats as of 1st January, 2020

Serbian PM Ana Brnabic announced she would propose in the parliament a set of youth employment measures within the next few weeks, implying legislative changes as well as tax relief for companies hiring young people.

Brnabic was speaking at a joint press conference with Finance Minister Sinisa Mali and representatives of the corporate sector at the Chamber of Commerce and Industry of Serbia.

From January 1 next year, companies that increase their workforce and hire people unemployed in 2019 will be given a 70 pct wage tax relief and be fully exempt from paying social security contributions for those workers throughout 2020 and for the most part in 2021 and 2022, she explained.

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She said the youth unemployment rate was now at around 24 pct as opposed to over 50 pct in 2012.

“It is a good result, but we are still not satisfied,” she said.

Finance Minister Sinisa Mali said amendments to the Income Tax Law envisioned incentives for Serbian expats aimed at motivating them to return to Serbia.

He said the measure applied to Serbian citizens who had lived abroad over the past two years and that they would be given a five-year 70 pct reduction of the tax base and social security contributions if they returned to Serbia to work.

That way, we want to encourage them to continue their careers in Serbia and also remain in the country after the five-year period, he told a press conference with PM Ana Brnabic.

Brnabic also said that the government had been working on a set of measures for returning expats as there was a strong political will to get young people to return to the country.

(Blic, 23.09.2019)


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