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Amendments to the Bill of Amending Law on Property Tax

The Bill of Amending Law on Property Tax was endorsed by Government of Montenegro and submitted to the Parliament of Montenegro for consideration and adoption. Since the Law regulates the property tax determination, collection and control system as main local government own revenues, the Union of Municipalities of Montenegro, starting from the role of a municipal interests representative before government bodies, has considered Bill of Amending Law on Property Tax and submitted amendments to the Parliament of Montenegro and to the responsible Committee for Economy, Finance and Budget.
Amendments to the Amending Law on Property Tax are prepared by the Union Commission for Local Government Financing, with an emphasis on determination the lower property tax rates. Also, the amendments propose obligation to pay immovable property taxes for secondary residential building or apartment that owner has signed a lease agreement with the tourist agency and an average occupancy of 60 days on annual level achieved, whose exemption is determined by the Amending Law.
Other amendments were submitted relating to the establishment of the deadline for issuing tax decision; precise regulation issues related to the property tax exemptions on buildings under construction and a residential building separate parts owned by investors that are classified in business books as “investments in progress” or “stocks of finished products”, intended for further sale for a 3 years period from the year construction permits were issued, etc.
Commission for Local Government Financing has prepared amendments and submitted to the Parliament of Montenegro and the Ministry of Finance for consideration.

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