Capital gains tax in Serbia: a practical guide to PPDG-3R filings

If you've made money trading stocks, ETFs, options, futures, or cryptocurrency from Serbia, you have a legal obligation to declare and pay tax on those gains. The form is PPDG-3R, the rate is 15%, and missing the deadline triggers penalty interest plus possible tax penalties.

Who needs to file

Any individual resident of Serbia who realized a capital gain from selling financial instruments during the year must file. This includes:

• Stocks, domestic (Belgrade Stock Exchange) and foreign (Interactive Brokers, eToro, Revolut, traditional brokers)
• Cryptocurrency, Bitcoin, Ethereum, and other tokens, regardless of which exchange you used
• ETFs and investment fund shares
• Bonds, options, and futures

Companies and entrepreneurs handle the same obligation through the PDP corporate tax return and the tax balance, not PPDG-3R.

How the tax is calculated

The taxable amount is the capital gain: sale price minus original purchase price. The rate is 15%.

For trades in foreign currency, you need to convert both the purchase and sale prices to RSD using the National Bank of Serbia's middle exchange rate on the respective transaction dates.

Tip: Losses from prior periods can be offset against current gains. If you had a losing year, document it carefully, those losses can reduce your tax bill in profitable years for up to five years.

When to file

PPDG-3R is filed twice a year:

• For trades made between January 1 and June 30, submission deadline is July 31 of the same year
• For trades made between July 1 and December 31, submission deadline is January 31 of the following year

What happens if you miss the deadline

Late filing triggers penalty interest under the Personal Income Tax Law and possible additional tax penalties under the Law on Tax Procedure and Administration. The Tax Administration also has the right to determine the tax through estimation if you fail to file at all.

Common mistakes

• Forgetting foreign exchanges, Trades on Interactive Brokers, eToro, and similar platforms are taxable in Serbia even though they're abroad
• Not converting to RSD properly, using year-end FX rates instead of transaction-date rates
• Crypto-to-crypto trades, these can be taxable events even if you didn't withdraw to fiat
• Ignoring losses, failing to document prior-period losses you could offset

How we help

Our tax advisors handle the full PPDG-3R process: reviewing your trade history, calculating gains in RSD, preparing and electronically submitting the form to the Tax Administration, and advising on loss offsets. We also track deadlines on your behalf so you never miss a filing window.

Learn more about our Capital gains tax filing service or contact us to discuss your specific situation.