Montenegro Proposes Amendments to Corporate Income Tax Law

The Montenegrin Ministry of Finance Nov. 21 proposed amendments to the corporate income tax law. The proposal includes measures to: 1) exclude limited partnership societies from the definition of legal entities and eliminate tax recognition for incentives provided to scientific research projects or innovative infrastructure; 2) remove the words “with fee” from the definition of capital gain; 3) allow the tax authority to adjust property values if the sale price is lower than market value and implement changes related to withholding tax reporting; 4) delete provisions related to tax relief for newly established legal entities in less developed municipalities and ...