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Montenegro

Montenegro: Tax Treatment of E-Commerce

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…

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Montenegro

Montenegro: May Tax Updates

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…

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Montenegro

Montenegro: New Economic Support Measures

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…

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Montenegro

VAT Refunds to Taxpayers Who Are Not Based in Montenegro

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…

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English

MONTENEGRO – A NEW REGIONAL IT HUB?

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…

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