The goods intended for use in their own households that natural persons bring into the country as passengers or receive from abroad through postal traffic, whose value does not exceed EUR 3,000, except for the goods that are subject to the provisions of the Customs Law and the goods that are free of duty under the Customs Tariff, may be cleared in the co-called “summary procedure”, by applying the uniform customs duty rate of 10 %.
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Persons temporarily entering the Republic of Serbia customs territory where they do not reside regularly (foreign nationals and Serbian nationals living abroad for more than one year) may import temporarily the goods they need for personal use during their travel and goods for sports purposes.  They include all articles, whether new or used, that are necessary to the passenger for personal use during travel, taking into consideration all the circumstances of travel, and exclude all commercial goods.
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More detailed conditions for importation of motor vehicles into our country are prescribed by the Ordinance on Importation of Motor Vehicles (“Off. Gazette of the RS”, 23/2010 – hereinafter: the Ordinance), which applies to motor vehicles belonging to M and N categories, according to the classification of the United Nations Economic Commission for Europe (UN/ECE), which is the integral part of the aforesaid Ordinance.

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The following may be freely taken into the country:

• foreign currency in cash;

• payment cards;

• cheques drawn in a foreign currency.

Payment cards and securities acquired in accordance with the regulations may be freely taken out of the country.

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Approved exporter is an economic operator that makes frequently shipments of products with preferential origin under Free Trade Agreements acceded by Serbia and providing such possibility; has sought for such authorisation and has obtained the approval of the Customs Administration for making out invoice declarations.

 On granting the status of approved exporter, an economic operator acquires a possibility to make out invoice declarations for the goods of preferential origin, irrespective of the value of the products concerned. This declaration could be given by approved exporter on an invoice, delivery note or any other commercial document which describes the products concerned in sufficient detail to enable them to be identified.

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Corporate income tax is the second lowest in Europe, while Value Added Tax is among the most competitive in Central and Eastern Europe.

Corporate income tax has a uniform rate of 10%.

The VAT rates are as follows:

• The standard VAT rate - 18% (for most taxable supplies);
• The lower VAT rate - 8% (for basic food stuffs, daily newspapers, utilities, etc.).

There are eight free zones which are currently operating in Serbia: Pirot, Subotica, Zrenjanin, Kragujevac, Sabac, Novi Sad, Uzice and Jug. One more free zone is currently being prepared: Smederevo.

 When doing business in free zones, investors are provided special benefits and a favorable tax regime that includes exclusion from VAT and custom duties for raw material import for export goods production, machinery, equipment, and building materials. Additionally, imports and exports within free zones are unlimited. What is more, goods that are imported from free zones into the domestic market are subject to foreign trade regime.

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The business registration procedure in the Business Registers Agency of the Republic of Serbia typically takes 5 days.