Podgorica, (MINA-BUSINESS) – The Twinning project “Support to the Tax Administration,” has facilitated the harmonization of the legislative framework for direct and indirect taxation and tax policies in Montenegro.
The Minister of Finance Darko Radunovic has said that the project contributed a great deal to the implementation of tax policy in Montenegro in terms of development of a competitive and stable tax system, based on simple and clear laws and procedures and efficient administration.
“This kind of tax policy in Montenegro is aimed at creating the environment conducive to investments and development of entrepreneurship, primarily by establishing the system based on low tax rates,” Radunovic said at a press conference.
This was the first Twinning project implemented with the Tax Administration. It was funded from the Instrument for Pre-accession Assistance IPA 2014, and implemented in cooperation with the Spanish tax authority.
Radunovic reminded that the Government proposed a Bill on Fiscalization and Trade in Products and Services.
“Implementation of electronic fiscalization will ensure a greater control over the transactions, focusing on the prevention of abuse, improvement of revenue collection, efficiency of tax administration and combating informal economy and tax evasion,” said Radunovic.
Head of the Delegation of the European Union to Montenegro Aivo Orav said that the project had achieved its goals.
“The project helped Montenegro harmonize its legal framework in the field of indirect and direct taxation, provided comprehensive training programmes and improved the conditions for administrative cooperation and mutual assistance with the EU member states,” said Orav.
He said that this is expected to improve the harmonization of tax policies and increase public revenues. Longer version of article is available on a link MINA ENGLISH SERVIS
