In the Republic of Serbia, The Law on the Profits of Legal Entities exempts civil society organizations (associations, endowments and foundations) from the general obligation to pay income tax, in order to achieve common useful or common objectives and activities in accordance with the provisions of the statute. The Law on the Profits of Legal Entities entitles them to deduct up to 5% of their income in one fiscal year for donations to culture. In addition, investments in field of culture, including cinema industry, are recognized as an expense up to 5% of total revenue. More detailed regulations on what is considered to be investing in culture should be adopted by the Minister of Culture and Information, after obtaining the opinion of the Minister of Finance.