The Government of Montenegro

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20.01.2010

Dear Sirs,
I would like to know if there is such thing as a tax agreement between Montenegro and the UE regarding the payment of VAT on services. My point is, how to avoid double VAT paying on services performed in Montenegro through a company located in the UE?
Thank you for your answer!

Cecile Dimitrijevic, Kotor

ANSWER

Poštovana g-đo Dimitrijevic,

U vezi vašeg pitanja koji se odnosi na plaćanje PDV na usluge, daje se sledeće mišljenje:

Odredbama člana 3 Zakona o porezu na dodatu vrijednost (“Službeni list RCG”, br. 65/01.....76/05 i

Sektor za poreski i carinski sistem

22.03.2009

I could not find any forms on your web site for filing of annual taxes. I have a client living in Montenegro who is employed there. He is also a US citizen. I need to find out what he must file for his taxes in your country and need the forms to do so.

Thanks

Deborah Malone, Roseville, Michigan, USA

ANSWER

A resident physical person (resident), is a physical person who: has his habitual residence or center of business and vital interests in the territory of Montenegro or resides in the territory of Montenegro for more than 183 days in the tax year.

The personal income taxpayer is obliged to, upon the expiry of the fiscal year, submit annual tax return for calculation and payment of personal income tax to the competent tax authority (according to the place of residence). Annual return is submitted on the form »GPP-FL« -Rules on the form and content of annual return for calculation and payment of personal income tax (

20.03.2007

Dear Employee of the government of Montenegro
We from Swiss Re are interested in data on the insurance market from all over the world. Unfortunately it`s not easy to find data on the market of Montenegro. Could you please tell me, if there was any ministry or supervisory authority which publishes some reports about the activities in the insurance market of Montenegro?
Thank you very much for your cooperation

Josef Keller, Zürich

ANSWER

Regarding to your question I would like to inform you the following:
You can find some date about insurance market in Montenegro on the web site adress: www.ministarstvo-finansija.vlada.cg.yu. From site you can download document which called Bulletin. Bulletins consist same articles about insurance market in Montenegro. Also, if you have same request for insurance data or some questions about insurance, you can contact Ministry of Finance Division for insurance supervision on the following mail: biljana.doderovic@mf.mn.yu .

Sector for Economy, Finance, International Cooperation and Games of Chanse System

15.03.2007

Dear Sir: Can you tell me when Montenegro withdrew offshore banking licenses and any reasons for the decision? I believe it was June of 2001 or 2002. Thank you.

Henry George, Los Angeles, California USA

ANSWER

Assembly of the Republic of Montenegro adopted Law on withdrawal of Law on offshore companies in Montenegro in December 2006. You can find this law in Official Gazette of the Republic of Montenegro No. 76/06 of December, 12 2006.

Sector for Economy, Finance, International Co-operation and Games of Chance System

16.02.2007

What is the law on restitution in Montenegro and is there any law relating to church property, in particular the SERB Orthodox Church?

Virginia Forsyth, London

ANSWER

Law on restitution of the taken away property right and compensation in Montenegro, prescribes that terms, method and procedure of restitution to communions will be regulated with special law.

CORPORATIVE SERVICES AND PROPERTY-LEGAL OPERATIONS SECTOR

03.01.2007

Why is the official currency in Montenegro the EURO? And when was the EURO introduced? Is Montenegro a member of the European Monetary Union?

Ellen, Kiel, Germany

ANSWER

At the present day, Montenegro is in the final phase of transition that has started at the beginning of the 90s. However, due to the economic sanctions against SFRJ, the transition was interrupted at its very beginning. Period characterized by dramatic growth of grey economy in GDP, as well as by hyperinflation brought to a terrible economic slowdown. During the second phase of transition process at every field of economic system, it came to acceleration of changes, but the reform of monetary policy distinguished itself as a dominant reform due to introducing of two currencies system (DEM and DINARS) in November 1999, and after that introduction of only DEM at the beginning of 2000. Euro became an official currency in Montenegro in January 2002 that had a significant implication in Montenegrin economy. Trade and investment movements became simpler, easier and with lower transaction costs.
Montenegro is not a member of European Monetary Union. Our country is about to finalize activities on signing of Stabilization and Accession Agreement. This document is a contribution to Montenegro's preparation for membership in the Economic and Monetary Union of the EU, to foster long-term economic convergence and a successful path towards progressive EU integration.

Sector for Economy, Finance, International Co-operation and Games of Chance System