COMPARATIVE ANALYSIS OF CITIZENS‘ INCOME TAX IN SERBIA AND EUROPEAN UNION COUNTRIES
COMPARATIVE ANALYSIS OF CITIZENS‘ INCOME TAX IN SERBIA AND EUROPEAN UNION COUNTRIES

Summary/Abstract: With the taxes they collect from citizens and the economy, modern states provide funding for numerous state functions, without which there would be neither civilized society, nor lasting economic and social progress. Citizens’ income tax is an extremely important category of taxes in the countries of the European Union, given the significant share in GDP and total public revenues. Tax rates are different, so countries with high personal income tax rates have the largest share of this tax in GDP, as well as the largest share in total public revenues (Denmark, Sweden, Norway), while in the countries of Central and Eastern Europe, personal income tax rates are lower, which is why the share of this tax in GDP and in total public revenues is very low. The share of personal income tax revenues in GDP and in total public revenues, in Serbia, is far less than these indicators in European Union countries, and VAT is the dominant tax form, with the largest share in GDP, tax revenues and total public revenues.

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