Serbia's Finance Ministry has established mandatory arm's length interest rates for related party loans in 2026, with differentiated rates for banks and other companies across multiple currencies, effective from 2 May 2026.

RF Report

Serbia’s Ministry of Finance has introduced new interest rates for related party loans in 2026, with the rulebook set to take effect on 2 May 2026 following its publication in the Official Gazette on 24 April 2026.

The regulations establish arm’s length interest rates that apply to all related party loans during 2026, regardless of when the original loan agreement was signed. Finance Minister Sinisa Mali signed the directive on 23 April 2026.

The different rates for banks and companies are as follows:

For banks and financial leasing providers:

  1. 4.40% on short-term loans in RSD;
  2. 0.33% on long-term loans in RSD;
  3. 4.87% on loans in EUR and RSD loans indexed in EUR;
  4. 4.98% on loans in USD and RSD loans indexed in USD;
  5. 3.05% on loans in CHF and RSD loans indexed in CHF;
  6. 4.12% on loans in SEK and RSD loans indexed in SEK;
  7. 1.50% on loans in GBP and RSD loans indexed in GBP;
  8. 10.73% on loans in RUB and RSD loans indexed in RUB;

For other companies:

  1. 7.13% on short-term loans in RSD;
  2. 7.21% on long-term loans in RSD;
  3. 4.75% on short-term loans in EUR and RSD loans indexed in EUR;
  4. 5.42% on long-term loans in EUR and RSD loans indexed in EUR;
  5. 7.10% on long-term loans in CHF and RSD loans indexed in CHF;
  6. 4.43% on long-term loans in USD and RSD loans indexed in USD.

These prescribed rates ensure compliance with transfer pricing rules for intercompany financing throughout the calendar year.