The Montenegrin government proposes VAT law amendments to benefit consumers and businesses. More precisely, the Montenegrin Government has released a draft bill proposing significant amendments to the VAT Law, aimed at benefiting both consumers and businesses.
Proposed changes in VAT in Montenegro
Public
Montenegro
Author: Nikolina Basic
Category:
Fiscal subject related
General information
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1129
Content accuracy validation date:
11.09.2024
Content accuracy validation time:
10:00h
The proposed changes include:
- Amended VAT Rates: The bill outlines adjustments to VAT rates for various categories of goods, services, and imports.
- Reduced Rates: A reduced 7 percent VAT rate is proposed for basic products and drugs, while a 15 percent rate is suggested for books and accommodation services.
- VAT-Exempt Categories: Certain categories will be exempt from VAT upon import.
- Marina Services: A measure to apply a reduced 15 percent VAT rate to marina services until Montenegro's accession to the EU.
These amendments are designed to ease the financial burden on consumers and support the growth of businesses in Montenegro. The new law is set to take effect from January 1, 2025, but the additional confirmations and information will be published in the coming months.
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