Montenegro: Amendments to VAT, individual income tax and labor laws

Amendments to VAT, individual income tax and labor laws have been enacted

Amendments to VAT, individual income tax and labor laws have been enacted

Amendments to the value added tax (VAT), individual income tax, and labor laws have been enacted following publication in the official gazette (no. 059/2021 dated 4 June 2021).

The changes include:

  • An increased limit for mandatory VAT registration (on the basis of turnover)
  • Individual (personal) income tax for undeclared income
  • An exemption for employers regarding a portion of salary tax withheld, up to the amount of average monthly salary in Montenegro
  • An increase in the net minimum salary for labor law purposes
  • Measures regarding mandatory social security insurance contributions

Read a July 2021 report prepared by the KPMG member firm in Montenegro

 

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