Montenegro benefits from the performances of its modern tax system, being competitive when it comes to straightforwardness of tax regulations, protection of sensitive tax related information and applicable tax rates that converge to tax rates in tax heavens.

In discharging competencies prescribed by the law, the tax administration does have the authorization to:

  • perform inspection supervision, undertake collection measures, other actions and activities within its competence; decide on the rights of taxpayers;
  • carry out registration of business organizations and taxpayers and maintain a registry of business organizations and a tax registry;
  • assess tax in the manner and in accordance with the procedure determined by law;
  • require that taxpayers and other legal entities submit documentation and provide other information necessary for assessment of tax liability;
  • summon the persons to participate in the tax procedure;
  • enter and inspect the business premises where business books and records or other objects necessary for application of tax regulations are located or may be located;
  • exempt business books and records and other objects necessary for application of tax regulations;
  • impose penalties for tax violations prescribed by this or other tax regulations;
  • use services of experts and expert witnesses, natural and legal persons, in the procedure of assessing tax liabilities when the expertise is necessary;
  • initiate and conduct a first-instance administrative and misdemeanor procedure;
  • maintain tax bookkeeping;
  • notify taxpayers of the course of inspection audit and their rights and obligations in that procedure; provide expert help to taxpayers in application of tax regulations;
  • provide the taxpayers with a copy of tax return free of charge;
  • keep tax secrets; bring criminal charges, economic offence charges or request for initiation of misdemeanor procedure;
  • forward the information, including also the tax secrets revealed in the course of criminal investigation or during gathering other information in cases when there is a reasonable doubt of a misdemeanor or criminal action, to the authorities in charge of law enforcement;
  • apply international treaties and agreements on double taxation avoidance and other conveniences in the payment of taxes;
  • cooperate with other bodies and organizations in the country and abroad regarding the issues of tax crimes, in accordance with international treaties or agreements;
  • control and publish financial statements of business organizations;
  • perform other activities prescribed by law and other regulations.

MONTENEGRO COMPANY
Integrated Corporate Services Provider 
Law Firm Jovovic, Mugosa & Vukovic

 

81000 Podgorica | Slobode 16 | Montenegro
Phone: +382 20 672 671 | Fax: +382 20 672 672
Email: info@montenegro-company.com

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