In a groundbreaking move, Montenegro is set to establish a direct bank payment system with Serbia and Bosnia and Herzegovina after a long-awaited 16-year period. This initiative promises significant benefits, including lower transaction fees for both citizens and companies, as…
Official Gazette 121/22, published in Montenegro on early November 2022, introduced taxpayers’ obligation to prepare and submit a Transfer Pricing (TP) Study. Transfer price is the price incurred in connection with asset transactions or the creation of obligations between related…
The online sales market or e-commerce in the region is growing rapidly. Every day, more and more legal entities recognize the need to place or just present their products on the Internet market. There are numerous advantages of internet sales , and one of the biggest – it brings customers…
During May 2021, the Montenegrin authorities have adopted several amendments to existing laws aimed at improving the current situation in the Montenegrin economy. Adopted amendments to existing laws include: Amendment to existing law on Value Added tax – Increasing the limit for mandatory VAT registration from 18,000 to…
The Government of Montenegro has announced new measures to support the economy for the second quarter of 2021, due to the crisis caused by the Covid-19 pandemic. As announced with the implementation of support measures, since the first quarter of 2021, the government worked on the adoption of a new package of measures to support the Montenegrin economy and the citizens. The package for the second quarter is aimed at special support for the liquidity of the economy ,as well as keeping the employment levels to meet the tourist season. The most important segment of this support package is a credit support to the economy, which will be implemented in several phases, with the aim of providing the economy with about 110 million euros of new credit funds. The estimated value of the new support package is € 166,075,000. With this new package the government has proposed and adopted…
The Law on Value Added Tax in Montenegro prescribes the VAT rate of 21%. VAT is calculated and paid at the general rate of 21% of all trade in products, services and imports of products, except for trade in products, services and imports…
This small Mediterranean country – known as the perfect blend of gorgeous coastline and dramatic mountains – has much more to offer then meets the eye. In terms of the business climate, significant progress has been made in the last…