(data for Serbia in 2007)
GDP per capita: $5,397 billion
Average wage: €425 (Belgrade), €340 (Serbia)
Annual inflation rate: 10.1%
The standard VAT rate: 18%
The lower VAT rate: 8%
Corporate Profit Tax Rate: 10% (lowest in Europe)
Personal income tax rate on wages: 12%
Other personal income tax rate: 20%
Annual Income Tax: 10% (for income exceeding the amount of 3 and 5 times the national average wage for Serbian and non-Serbian citizens respectively) and 15% (for income 8 times above the national average wage for non-Serbian citizens)
Rates for mandatory social security contributions: 17.9%
Unemployment rate: 21%

Serbia has free trade agreements with Russia and the countries of South East Europe (CEFTA).

Getting a Work Permit
Internationals planning to work in Serbia are required to obtain a Temporary Residence Permit. To get one, you need to submit an application to the Police Office in the territory of residence. The documentation required for granting this permit depends on the reasons for requesting the permit (employment, education, sport etc.) and typically includes a valid passport, 2 photographs, evidence of means of support (such as bank statement attesting to availability of funds), employment contract, explanatory letter re: the need for employment written by the company, or decision on registration of the company (if you are owner or representative of a company). It normally takes about a week to process the application. Belgrade City Police (Department for Foreigners), Savska 35, tel. 361 89 56.