Crypto Taxation in Serbia: A Complete Guide

Serbia is rapidly turning into a Balkan centre of bitcoin activity. Licensed exchanges, ICOs, and mining outfits have boomed since the Law on Digital Assets (LDA) went into effect in 2021, but on a day-to-day basis, payments in crypto still are forbidden. As far as resident investors and foreign businesses that operate with the use of a Serbian entity, it is essential to know how profit is taxed. 

Serbia taxes crypto assets, whose rules are enforced by the Tax Administration (Poreska uprava), in conjunction with the National Bank of Serbia (NBS) and the Securities Commission (SEC), failing which high fines may be imposed.

Tax Authorities & Regulations

The Serbian crypto-tax system rests on four laws: the Law on Digital Assets 2021, the Personal Income Tax Law, the Corporate Income Tax Law and the Value-Added Tax Law (amended in July 2021).

Supervisors

• Tax Administration (TA): calculates and receives all the income, capital gains and VAT.
• National Bank of Serbia (NBS): controls the service providers and the AML in the virtual currency.

Secondary-market platforms and token issuers are licensed by the Securities and Exchange Commission (SEC).

Classification

• Cryptocurrency (e.g., BTC, ETH) is considered as intangible asset and not legal money.
• Intangible property also includes property rights to property ownership or profit sharing or admittance rights in the form of digital tokens.
• The two varieties are taxed when they are sold or when one is paying with them to get goods/services.

Types of Crypto Taxes in Serbia

Capital Gains Tax (CGT): a tax that is imposed on the profit generated as a result of a sales/exchange/consumption of crypto.

Income Tax: taxed coins or tokens which are obtained as a result of mining and staking and airdrops, wages and bounties.

Value-Added Tax (VAT) Transfers of virtual currency are not subject to Value-Added Tax (VAT); Value-Added Tax (VAT) may be elicited on the sale of tokens whose selling are accompanied by goods/services.

Other Taxes: 2.5% crypto inheritance and gift transfer tax; no wealth tax.

Tax Rates & Brackets

• Individuals
  
  • CGT flat 15% on net gains.
  • Personal income tax is 15% on mining, staking or salary income in crypto.
    
• Businesses
  • CGT is integrated into the 15% corporate income tax base.
    
• Exemptions/Relief
  • 50% CGT rebate if disposal proceeds are reinvested in a Serbian company or fund within 90 days.
  • Virtual-currency exchanges, custodians and dealers licensed under the LDA are exempt from CGT on inventory coins acquired solely for onward sale.

Crypto Transactions & Tax Treatment

• Buying and holding crypto—not taxable until disposal.
• Selling for fiat triggers CGT; gain = sale price – acquisition cost.
• Mining & staking rewards are taxed as ordinary income when received; later sale incurs CGT on further appreciation.
• Salary or services paid in crypto–value on payday treated as employment or business income.
• Crypto-to-crypto swaps—each leg is a deemed sale at fair-market value; CGT due.
• DeFi lending/yield farming—token interest is income; impermanent-loss recoveries affect CGT.
• NFT mints and trades—creators pay income tax on primary sales; secondary sales yield CGT for holders.

Crypto Tax Reporting & Compliance

Residents have to make a Capital-Gains Return (PP ODG-3) within 120 days of the quarter, during which the gain would have occurred. Gains are recorded in tax balance by the companies on an annual basis. The exchange statements, transaction hashes, wallet screenshots, and fiat-conversion rates are other pieces of evidence that should be stored within seven years. Failing to file on time earns an interest with rate of 0.03% per day and a surcharge of 10 to 50%; underreporting deliberately attracts criminal charges.

Tax Deductions & Exemptions 

A Serbian firm can write off all immediate expenses of crypto purchases (fee of exchange, electricity required by mining, slackening of equipment, and SAFE-storage insurance) in determining profit. Capital losses that result as a result of crypto disposals can be used against other capital gains of the same year and can also be carried over by five years. To the individual, the cost of mining can be within the package called the acquisition value in case properly recorded and shall reduce the future eventual capital gains tax. The gains of cryptos can be countered by losses in the year of the calendar but cannot be carried to the subsequent years.

Enforcement & Penalties for Non-Compliance 

The TA may match exchange information that has been received under LDA licensing regulation, reports of bank-transfers and automatic exchange-of-information agreements. Regulated VASPs have to conduct KYC and submit summaries of transactions monthly; the blockchain analytics tool alerts large outlines in the wallet and coin-mixing. The consequences of not reporting crypto income or gains of 5 million RSD (0.7667 million euro) may be:

1. Administrative fines up to RSD 2 million for individuals and RSD 10 million for firms.
2. Late-payment interest (NBS reference rate + 10 points).
3. Tax misdemeanor charges—up to one year’s imprisonment for intentional evasion.
4. Asset freezes and withdrawal of VASP licenses for systemic offenders.
   Voluntary disclosure before an audit reduces penalties by 50%.

Future of Crypto Taxation in Serbia

A 2025 draft amendment to the LDA would introduce a regulatory sandbox and clarify VAT treatment of utility-token sales. The Ministry of Finance is weighing a de minimis CGT exemption for gains under €1,000 to ease retail compliance. Serbia’s government signals continued support for blockchain innovation, with potential tax credits for R&D-heavy crypto start-ups on the table.

Conclusion

The crypto capital gains taxation regime and income taxation regime are rather simple in Serbia (both are 15%). Transfer of virtual currency is also VAT exempt, whilst token-linked goods and services remain in the VAT net. Maintain impeccable records of your cost basis, classify it quarterly, and consider the 50% reinvestment relief in case you anticipate the growth in your area. Advice is best sought through a Serbia-licensed tax advisor, bearing in mind that the rules are fast evolving.

FAQs

1. Is it legal to pay for coffee with Bitcoin in Serbia?

No. Retail pricing and settlement must be in dinars; crypto is classified as property, not money.

2. Do I owe tax if I simply swap BTC for ETH?

Yes, Serbia treats swaps as two taxable disposals; CGT applies to any gain on the BTC portion.

3. How is mining income valued?

At the market rate of the coins on the day they are credited, electricity and gear costs can form part of the acquisition value.

4. Are airdrops taxable?

The fair-market value at receipt is ordinary income; selling later triggers CGT on further gains.

5. Can foreign crypto profits escape Serbian tax?

Serbian residents are taxed on worldwide gains, but double-tax treaties may credit foreign tax already paid.

6. What records should I keep?

Exchange CSVs, wallet addresses, bank slips, invoices for mining equipment, and daily NBS FX rates used for conversions.