New business owners are now entitled to an additional 20% reduction in the tax base in the first three years of their business, while a 10% reduction is expected for young entrepreneurs under the age of 30 and those over the age of 55.
The amount of payable taxes will be delivered to them electronically in the future at the specialized Tax Administration’s web portal and each of those taxpayers will know exactly what amount they will have to pay by the first half of January.
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According to Dragan Agatunovic, head of the Tax Administration’s control department, the sending of the relevant tax documents via the web portal is already underway.
“Everyone can download the documentation only through a qualified digital certificate and, if they do not have one, they can authorize anyone to download it for them. The new lump-sum taxpayers will get the document stating the amount of taxes they will have to pay within 48 hours from the date of establishment of their business, and this will also include an electronic form of the document. An additional advantage for start-ups is that the application for registration in the business register will also be considered an application for a tax return,” explains Agatunovic.
“Tax relief has been introduced for pregnant women, new mothers and people with disabilities who, as start-ups, will have an additional 15% reduction in the tax base. Old arts and crafts businesses have the biggest reduction in the tax base, up to 50%,” Agatunovic says, noting all these novelties will contribute to fewer delays in paying taxes.
Companies can also submit tax returns free of charge through the E-porezi web portal and the Tax Administration will also issue electronic certificates to companies free of charge. Although the cost of electronic registration is lower than when physically going to a Tax Administration’s branch, last year only 3.9% of companies and 5.5% of small business owners used the opportunity to register online.
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