Tax Debt Payment Plan Introduced In Montenegro

The Ministry of Finance of Montenegro and the Tax Administration of Montenegro have created a new program in the current tax system by way of tax incentive for companies with tax debt. The newly introduced program will facilitate payment of debt related to corporate income tax, personal income tax, social contributions, VAT and tax on real estate

The relevant Law, concluded on December 31st 2016, provides the ability to pay tax debts in up to 60 installments, with the requirement that the first payment amounts to 10 percent of the total debt. A very important aspect of the act is the fact that the dynamics of settling of the tax debt (basically the number of monthly installments) in proposed by the taxpayer.