Taxation of Cryptocurrencies in Serbia

In Serbia, cryptocurrency taxation has been regulated since 2023, and the rules remain stable as of 2026. The main burden falls on individuals who earn income from cryptocurrency operations. Below are the tax rates, declaration procedure, exemptions, and practical steps for expats.

Who Must Pay Cryptocurrency Tax in Serbia

Tax must be paid by all individuals who:

• sell cryptocurrency for fiat (euro, dinars, dollars, etc.);
• exchange one cryptocurrency for another (e.g., bitcoin → ether);
• use cryptocurrency to pay for goods or services;
• mine cryptocurrency (mining income is considered entrepreneurial activity).

Exemptions
Holding cryptocurrency without transactions is not taxed. Transfers between your own wallets (e.g., from one bitcoin address to another) are also not considered a taxable event.

If you are a non-resident but earn income through Serbian exchanges or mining pools, the tax may apply. In that case, it is advisable to consult a Serbian tax specialist.

Tax Rate and Calculation of the Tax Base

Since 2023, a single rate - 15 % applies. It is applied to:

• profits from the sale of cryptocurrency;
• profits from the exchange of cryptocurrency;
• mining income (after deducting expenses).

The base is calculated using the FIFO (First In, First Out) method. Example:

• 1 BTC - 30 000 EUR (January 2025);
• 1 BTC - 40 000 EUR (June 2026);
• 1 BTC - 50 000 EUR (August 2026) → profit = 50 000 - 30 000 = 20 000 EUR; tax = 15 % × 20 000 = 3 000 EUR.

For mining, the market value of the coins at the moment of receipt is used. Expenses (electricity, equipment) can be deducted, but only with supporting documents (receipts, contracts).

How to Declare Cryptocurrency Income

The declaration is submitted annually by 31 March of the year following the reporting year. Income for 2026 must be declared by 31 March 2027.

Step 1 - Gather Data

• dates and amounts of all transactions (buy, sell, exchange);
• market value in dinars at the time of each transaction (data from CoinGecko or CoinMarketCap);
• documents on expenses (for mining).

Step 2 - Fill Out the Declaration

Form ПДФ-1 (individual tax return) contains a section "Income from Capital". Enter the total income amount, expenses (if any), and the taxable base.

Submission can be done:

• Online via the portal eUprava (electronic signature required);
• In person at the local tax authority (e.g., in Belgrade - Uprava za javne prihode).

Step 3 - Pay the Tax

Transfer the tax by 31 March of the same year. Payment details:

• Bank account: Uprava za javne prihode (Serbian tax service);
• Payment reference: declaration number and period (e.g., "ПДФ-1 for 2026 year").

Cryptocurrency Mining: Taxation Particulars

Mining is considered entrepreneurial activity if:

• it is carried out on a commercial scale (rented equipment);
• mined coins are regularly sold.

Taxation:

• income - 15 % (as entrepreneurial income);
• expenses (electricity, equipment, rent) are deducted from the base;
• irregular mining (on a personal computer) may fall under other income - same rate applies.

If mining income exceeds 80 000 EUR per year, registration of a sole proprietorship or DOO is required. Registering a sole proprietorship costs about 5 000 RSD (≈ 42 EUR) and takes 5-7 days.

Taxation of Cryptocurrencies for Non-Residents

Non-residents pay tax only when:

• transactions are conducted through Serbian exchanges or mining pools;
• they receive income from Serbian companies (e.g., salary in cryptocurrency).

In other cases, the tax is withheld by the tax agent (e.g., the exchange), and no declaration is required.

Important: Serbia has few double-taxation avoidance agreements. If you already pay cryptocurrency tax in another country, check with a local advisor whether an additional declaration in Serbia is needed.

Penalties for Non-Payment

• Late interest - 0.2 % per day on the unpaid amount (maximum 30 % of the debt);
• Penalty for non-submission of the declaration - 10 000-50 000 RSD (≈ 85-425 EUR);
• Penalty for under-reporting income - 20 % to 100 % of the unpaid tax.

The tax authority may request documents for the last 5 years; failure to provide them within 30 days will result in a fine.

Practical Tips for Expats

1. Keep records using tracker services such as Koinly or CoinTracker. They automatically calculate the FIFO base.
2. Fiat-to-crypto exchange - no tax; a taxable event occurs only on sale or exchange.
3. Store documents: receipts, exchange statements, market-value data at the time of transactions. They will be needed in case of an audit.
4. Consult a specialist: complex cases (e.g., mining in multiple countries) are best discussed with a Serbian tax consultant. Cost ≈ 100 EUR per consultation.

Useful Links

• Official ПДФ-1 form (tax return)
• Map of Serbian tax authorities (where to file)
• Market data for tax calculation (CoinGecko)
• Sole proprietorship registration in Serbia (eUprava portal)