The official currency of the Republic of Serbia is the dinar (RSD). In circulation there are:
Coins and notes which contain the inscription of the National Bank of Yugoslavia (Narodna Banka Jugoslavije), and look the same as or similar to money currently issued by the National Bank of Serbia, have been withdrawn from circulation and are no longer legal tender. They can be exchanged free of charge for an equal value in all National Bank of Serbia offices until 31stDecember 2012.
Foreign currency can be exchanged in all banks and post offices, as well as in the many authorised exchange offices.
Value Added Tax (VAT,PDVin Serbian) is charged in Serbia on goods or services, depending on the type at a rate of 8% or 20%.
Foreign nationals who take goods purchased in Serbia with them when they leave the country are entitled to a refund of VAT,provided that the total value of the goods, inclusive of VAT, exceeds 150 euro in equivalent dinar value, and that they are taken out of the country within three months of the date of purchase.
In order to obtain a refund of VAT, foreign visitors must ask for a “Request by a foreign national for a refund” (‘Zahtev stranog državljanina za refakciju’), form REF 4, from the seller of the goods. The seller must complete the form in triplicate, giving the original and one copy to the purchaser. On leaving Serbia, the purchaser must show the invoice, goods and original REF 4 form to Customs.
The VAT will be repaid to the purchaser or the person presenting the original REF 4 form provided that he delivers the original REF 4 form certified by Customs to the seller within 6 months of the date of issue of the invoice. Repayment of VAT is made immediately in cash in dinars or within 15 days from the date of submission of the form by payment into a bank account.