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Amendments to the Law on Personal Income Tax of Republika Srpska

Tax Alert, March 2014.

Amendments to the Law on Personal Income Tax of Republika Srpska were published on 8th December 2013 in the Official Gazette of Republika Srpska no. 107, and became effective as of 1st February 2014.

Significant amendments are as follows:

The following allowances shall apply:

a) annual personal allowance in the amount of BAM 2,400, i.e. BAM 200 per month;

b) allowance for each dependent immediate family member in the amount of BAM 900 annually;

c) allowance for interest paid on the housing loan, and

d) allowance for voluntary pension insurance paid during the year, but not exceeding the annual amount of BAM 1,200.

In case you have any questions concerning this announcement, please do not hesitate to contact us.

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