According to the amended provisions of Art. 37 and 42 of the Law on Compulsory Social Security Contributions (hereinafter: the Law), which are applicable as of 1 January 2020, the lowest monthly contribution base is 35%, and the highest is five times of the average monthly salary in the Republic paid, earned in the period for the previous 12 months, starting as of September in the current year, for which period the data of the Republican authority competent for statistics are published, unless otherwise is stipulated by law.
Official Gazette of the Republic of Serbia, No. 88/2019 of 13 January 2019 published the average earnings in the Republic of Serbia paid for the period from October 2018 until September 2019. (73. 718 dinars). Based on this data may be calculated new amounts of the minimum and maximum monthly contribution for 2020. Therefore, the new amounts of the lowest and highest monthly contribution base applicable in 2020 are:
– minimum monthly contribution base: 25. 801 dinars;
– maximum monthly contribution base: 368. 590 dinars.
The new monthly contribution bases are applicable to all payments starting as of 1 January 2020 regardless of which month the payments are made. In other words, if the salary for December 2019 was paid in January 2020, the new amounts of the monthly contribution bases will be applicable.