The Central Bank of Montenegro (CBCG) has agreed to collaborate with the enterprise crypto and blockchain solutions provider Ripple to develop a strategy and pilot programme to launch the country’s first digital currency in the form of a Central Bank Digital Currency (CBDC) or national stablecoin. Aligning with the CBCG’s core objectives, the digital currency’s introduction is another step forward to digitising financial services and fostering a world of greater financial accessibility for

The Parliament of Montenegro adopted a series of changes to tax regulations that were published in the Official Gazette of Montenegro no. 152/22 of December 30, 2022. An overview of the most significant changes and the beginning of their application is given below. Law on personal income tax Benefits to individuals who are not employed by the payer are considered other income. The aforementioned benefits were included in personal income

On December 31, 2021, the Parliament of Montenegro adopted a series of changes in the area of tax regulations (“Europe Now” program). An overview of the most significant changes is given below. Law on corporate income tax I Progressive taxation of profits Progressive taxation of profits of legal entities is introduced as follows: The withholding tax rate is increased to 15%. II Transfer prices A new set of transfer pricing

Parliamentarians adopted a set of laws within the “Europe Now” program, which caused sharp criticism. The representatives of the Montenegrin parliament adopted today a set of laws that enable the increase of the minimum wage from 250 to 450 euros from January 1, 2022. Health contributions are abolished, a tax-free part of earnings up to 700 euros is introduced, as well as an increase in the tax rate on earnings