Serbia Announces Minimum Wage, Pension, Tax-Free Income Increases

The Serbian Government Sept. 7 announced increases in minimum wages, pensions, and tax-free income. The announcement includes, effective Jan. 1, 2024: 1) a 17.8 percent increase in the monthly minimum wage, to 47,154 Serbian dinars (US$430.68); 2) an increase in the hourly minimum wage, to 271 dinars (US$2.47) from 230 dinars (US$2.10); and 3) an increase in the non-taxable income amount for individuals, to up to 25,000 dinars (US$228.33) from 21,712 dinars (US$198.30). The announcement also includes a 5.5 percent indexation of pensions, from Oct. 1, with 10,000 dinars (US$91.37) paid to mothers and single fathers by Oct. 31. [Serbia, ...