Podgorica, (MINA-BUSINESS) – It was concluded at a seminar on avoiding double taxation and VAT aspect of cross-border transactions, that Montenegro’s practice related to double taxation was similar with the ones followed in the rest of the region, but could be further improved.
Director of the Tax Advisory Department at BDO Serbia Bojan Cepic said at the seminar hosted by the Chamber of Commerce that the countries of the region were trying to keep pace with the tax legislation in the EU, and harmonize all regulations related to the value added tax, profit and international double taxation with European standards, in order to eliminate the differences in their respective legal frameworks.
At the seminar organized in cooperation with the audit and consultancy company BDO from Serbia, he said that the practice of the tax authorities from the region varied across the region, and from city to city.
“This is the consequence not only of the regulations, but also of the approach of a country to the economy, resulting in different tax controls,” said Cepic.
It was concluded at the seminar that Montenegro was currently a party to 40 international tax treaties aimed at avoiding double taxation.
Longer version of article is available on a link MINA ENGLISH SERVIS
