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Taxation in Montenegro

Corporate Tax

Main rate: 9%

Resident companies are taxed on their worldwide income; non-resident companies are taxed on income sourced in Montenegro. A company that is registered in Montenegro, or that has its management and control there, is deemed to be resident for tax purposes. Dividends are subject to withholding tax, but are not included in taxable income. Capital gains realised from the disposal of shares, securities and real estate are taxed as income. Disposal of equipment does not give rise to capital gains/losses.

Individual Tax

Progressive rates up to 23%

Resident individuals pay tax on their worldwide income; non-residents are taxed only on income sourced in Montenegro. Personal income tax is charged at progressive rates up to 23%.

Capital Gains

Company gains taxed as income

Capital gains of companies are taxed as income. Gains of individuals are reduced by 50% and included in taxable income taxed at the normal progressive income tax rates.

Indirect Tax

VAT standard rate: 17%

Value-added tax (VAT) applies to most transactions at a standard rate of 17%. Exports are zero-rated.

Tax Administration and Compliance

Tax year: Corporations and individuals: calendar year

Monthly advance tax payments are due, based on the results of the previous year. Tax returns must be filed within three months after the year-end. Employment income of individuals is taxed by withholding. Individual tax returns are due by April 30th. An assessment of final tax is raised on the basis of the information in the tax return.

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