At the session of the National Assembly held on December 17, 2020, amendments to the Corporate Income Tax Law were adopted, which were published in the "Official Gazette of RS", No. 153/2020 of December 21, 2020.

Changes related to investment funds

Capital gain is realized through the sale (or other transfer for a fee) of the investment unit of the investment fund.

It is specified that the remaining net asset value of an investment fund that does not have the status of a legal entity, which after the dissolution of that investment fund is distributed to members in proportion to their investment units, in cash or non-monetary assets, and which is above the purchase price of these investment units, is considered a capital gain that is included in the tax base in the amount of 50% of the total realized capital gain.

It is prescribed that the income generated by a non-resident legal entity on the basis of membership in an alternative investment fund that does not have the status of a legal entity is considered a dividend.

Amendments related to revenues from the sale of digital assets

It is adopted that the capital gain / loss be determined on the basis of the sale (or other transfer for a fee) of digital assets, unless the taxpayer, in terms of the law governing digital assets, has a license to provide services related to digital assets and who has acquired digital assets solely for the purpose of resale within the provision of services related to digital assets in accordance with that law.

It is specified what is the purchase price of digital property - it is the price that the taxpayer documents as actually paid, ie if the digital property is acquired by so-called mining digital assets (by participating in the provision of computer verification services for transactions in information systems related to certain digital assets), the purchase price is the value of digital assets stated in the business books of the taxpayer. This price is adjusted for estimated or fair value, if the change in fair value is stated in full as income in the period in which it is made.

It is specified that capital gains from the sale of digital assets do not enter the tax base if the funds from that sale are invested in the share capital of a resident taxpayer in that tax period, ie an investment fund that is a resident of Republic of Serbia.

Capital losses incurred through the sale of digital assets cannot be offset by capital gains if the funds from the sale are invested in a previously explained manner.

Determining the cost of real estate acquired before January 1, 2004, for the purpose of determining capital gain or loss

For the purpose of determining the capital gain, it is specified that for the real estate acquired before January 1, 2004, the purchase price is equal to the book value of this real estate, which was determined on December 31, 2003. This price is reduced based on tax depreciation.

Specification of Article 50a paragraph 6 of the Law

It is specified that new employees are not considered employees who, starting from the last day of the tax period preceding the investment period, were employed directly or indirectly by a related party, as well as employees who are not directly employed by the taxpayer.