New Amount of Minimum Wage in the Republic of Serbia September 15, 2020 The Social and Economic Council announced today that the monthly minimum wage in Serbia from 2021 will be increased by 6.6 percent, from RSD 30,000 to RSD 32,156 (EUR 272.4). The minimum wage is determined by working hours without taxes and contributions for the calendar year no later than September 15 of the current year, and it is applied from January 1 of the following year. Minister of Finance Sinisa Mali stated that the minimum wage in the next year will be increased by approximately RSD 2,000, which means that the minimum price of labor per working hour will be increased from RSD 172.5 to RSD 183.9. Minister of Finance Sinisa Mali mentioned that last year, the minimum wage was increased by a record 11.1 percent, when the increase was approximately RSD 3,000. He pointed out that the Government was guided by the interest of the workers, adding that it is also true what the employers say that the increase in the minimum wage raises other wages as well. “We wanted to preserve the interests of employers, even though the whole world was hit by the biggest crisis in history”, said Mali. The non-taxable part of the wage will be increased from RSD 16,300 to RSD 18,300 (EUR 155.2). On the other hand, employers made any increase in the minimum wage conditional on relief in the payment of taxes and contributions.
