Montenegro MOF Seeks Comments on Draft Bill on VAT

The Montenegrin Ministry of Finance May 13 opened a consultation on a draft bill to transpose various EU VAT directives. The bill includes measures to: 1) list the supplies of goods and services subject to VAT, and the transactions and supplies that are VAT-exempt; 2) clarify the place-of-supply rules for various services; 3) set a 21 percent general VAT rate, and reduced rates of 7 percent, 15 percent, and zero percent for specified goods and services; 4) specify the conditions and procedures for calculating input VAT deductions, and requesting VAT refunds; 5) establish a mandatory VAT registration threshold of 30,000 ...