These tax and contributions related reliefs pursuant to the above laws encompass several reliefs, but since some of the conditions and the actual manner of exercising the right to relief required further specification, the relevant provisions of the laws were left to be further specified through bylaws.
The first rulebook, regulating the subject reliefs, particularly the one related to recognition of costs in the double amount in tax balance, prescribed under the Corporate Income Tax Law – the Rulebook on the Conditions and Manner of Exercising of Right to Recognition of Costs Directly Connected to Research and Development in Double Amount in Tax Balance[1], was rendered by the Ministry of Finance in the year 2019.
Now, the Ministry of Finance rendered a second rulebook – the Rulebook on the Conditions and Manner of Exercising the Right to Tax Relief based on the Salaries of Employees Engaged in Research and Development[2], that came into force on 16 April 2022. This latest rulebook aims to further specify the conditions for relief prescribed by the Personal Income Tax Law.
Follow the link HERE, for the full article in which, our Partner Nikola Đorđević and Senior Associate Marija Vukčević provide the most relevant specifications of conditions initially prescribed by the Personal Income Tax Law.