From 1 July 2023, the interest income of natural persons will also be subject to a 13% social contribution tax. This means that - inter alia - interest on deposit accounts, together with personal income tax, will be subject to a total of 28% tax rate.

A recently published government bill plans to modify the Hungarian personal income tax law by abolishing significant tax advantages associated with Hungarian trusts in a short period of time.

The year 2021 was the most successful ever for the Serbian startup ecosystem, with local startups attracting over €120 million in investments and the Serbian tech sector exceeding $1.7 billion in export revenue in 2021. The Government’s ‘’Strategy for the Startup Ecosystem Development of the Republic of Serbia for the period from 2021 to 2025’’ aims to accelerate the development of the startup ecosystem and encourage innovation even more. As one of the main instruments of doing so, RS has introduced good-old tax reliefs and incentives.

Several updates vie for the front page in Montenegro, from politics, tax reforms, and the influx of high-skilled professionals to vibrant renewable energy sector activity and a booming M&A market, according to Komnenic & Partners Partner Nemanja Radovic.

The Legal Monitoring Report deals with amendments to the Law on Joint Stock Companies and the Compulsory Licensing Mechanism, ratification of the Agreement on the Transportation of Goods, and approval of Legal Framework on Cuber Security, the FISCALIS Agreement and Ecolabel Regulations.

The Ministry of Finance of the Republic of Serbia has recently issued the opinion no. 011-00-313/2022-04 (“the Opinion”), which refers to taxation of the fees paid by resident legal entities to non-residents for leasing servers abroad.