The Ministry of Finance of the Republic of Serbia has published in the Official Gazette of the Republic of Serbia dated 4 November the information on its entry into force.
As of 1 January 2020, the withholding tax rates for tax residents of Israel shall decrease from statutory rate of 20% to 5% i.e. 15% in case of dividends, 10% in case of interest and 5% i.e. 10% in case of royalties.
It is expected that entry into force of the double taxation treaty will add to a further increase of cooperation between residents of two countries, as well as increase in investments.