Taxes in Montenegro
Montenegro is a small, picturesque state located in South-East Europe. The capital of this Balkan country is the city of Podgorica. The population is 624 people.
Montenegro is popular both among ordinary tourists who flock to the country every year to admire the local beauty and swim in the warm Adriatic Sea, and among businessmen - experienced and beginners.
The state's economy is relatively young, as it gained its independence only in 2006. The market economy, which is developing at an active pace, demonstrates stability, which cannot but attract foreign companies and investors.
Montenegro has a well-developed industry, agriculture, service sector and tourism sector
The state government is making great efforts to develop the economy through foreign direct investment. The tax regime created here is distinguished by transparency and low rates compared to neighboring countries.
Foreign businessmen are well aware that the tax burden in the country is low, so they want register a company in Montenegro. The company "E-COMMERCE BROKER" offers a range of services that are aimed at comprehensive assistance to businessmen who decide open a business in Montenegro.
Tax system of Montenegro
Taxes in Montenegro are paid by residents of the country living here, registered as legal entities and conducting commercial activities, receiving profit from it, as well as by non-residents - foreign citizens receiving profit from conducting business in the jurisdiction.
Our many years of experience in cooperation with various European jurisdictions allows us to quickly and positively resolve any issues related to company registration, obtaining licenses, and developing effective financial and tax programs.
The main taxes in Montenegro are:
- VAT.
Paid by those who produce and sell various goods and provide services. The standard VAT rate in the jurisdiction is 21%. A preferential rate of 7% applies to:
- food basket;
- medical supplies;
- educational literature;
- hotel products and so on.
In addition, there is one rule in the jurisdiction: if a business generates an annual income of less than 18 thousand euros, then the legal entity is exempt from paying tax.
- Income tax.
The tax is paid by all legal entities engaged in business in the territory of the Balkan state and receiving profit for it. The general rate is 9%. Several additional fees are added to the income tax:
- profit from dividends - rate 15%;
- from interest - 5%.
- Excise taxes.
Excise duty applies to the following categories of goods:
- alcoholic beverages - the interest rate is affected by the volume and strength of drinks;
- tobacco - the rate consists of two types of excise tax: a specific 1 euro per kg. products and proportional - 26% of the price of cigarettes upon sale;
mineral oils and derivatives.
Open a business in Montenegro with “E-COMMERCE BROKER”
Montenegro is an attractive place to start developing many commercial areas. E-COMMERCE BROKER specialists are pleased to offer you assistance in the following areas:
- business registration;
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