fiscal system

Sector tax concentration in Serbia: Which industries carry the fiscal system, how diversified the revenue base really is, and what this means for economic resilience

Serbia in 2025 finances the state through a tax system that relies not only on households and aggregate consumption, but also heavily on structural sectoral contributions. Behind every billion euro of VAT collected annually lies sectoral economic reality. Behind every corporate tax euro are sector earnings structures. Behind excises sit sector-specific consumption and distribution channels. The fiscal system is supported by several powerful engines and a broad supporting base, and understanding which industries carry the heaviest fiscal weight is critical…