In order to encourage the return of young people from abroad, as well as to enable the diaspora to return home and work and earn money in Serbia, last week, the government adopted a document stipulating measures for the development of an innovative economy.
The significance of the document is that it stipulates lower payroll tax, up to 70%, over the period of five years if companies hire workers that are repatriated.
The measures stipulate that companies are eligible for a tax reduction if they hire an ex-pat who has been living abroad for at least two years, and if they give them a salary that is at least three times the average salary in Serbia, i.e. 217,656 dinars.
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In addition, the employer will pay lower taxes and contributions on wages, amounting to 70%, if he employs young people under the age of 40 who have studied abroad and spent at least one year there, and in Serbia, they are given a salary of at least 145,104 dinars.
In the case of hiring foreign nationals, their salary must also exceed 217,656 dinars in order for the employer to be eligible for tax benefits.
To further support this measure, associations of Serbian citizens in London and San Francisco have formed the Tačka Povratka organization, whose goal is to find ways to contact young people from Serbia living abroad.
With the help of the Ministry of Economy, Infostud website will publish job opportunities for Serbs abroad in order to attract highly qualified or most sought after workers in areas where the country has a shortage of labour.
The Ministry of Economy has been working on these measures over the last three years, taking into account the opinions and suggestions of experts from different sectors and professionals to determine what further measures can be taken to enable companies to grow their business faster, employ more people, facilitate the return of Serbian citizens living abroad, increase the competitiveness of the economy and form a link between business sector and universities.
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