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Meeting on the Draft Law on Tax Support

30/09/2016

Working meeting on the Draft Law on Tax Support with the Minister of Finance Mr. Rasko Konjevic and his associates was organized in the Chamber of Economy of Montenegro (CEM). Director General of Directorate for Tax and Customs System of the Ministry of Finance Mr. Novo Radovic, president of Commission for state aid control Mr. Mitar Bajceta, and Mr. Ilija Vukcevic, Adviser at the Ministry also participated in the meeting with the entrepreneurs.

Vice President of CEM Mr. Stanko Zlokovic says that this law aims at providing support to companies to eliminate the consequences of the economic crisis.

- This Law is a good solution for the tax debt piled up during the crisis, which facilitates the position of the debtor, but also stimulate economic entities who meet tax obligations in due time. The prepared Draft Law should be supported in principle - says Mr. Zlokovic.

Minister Konjevic expressed gratitude towards the CEM for the prompt organization of this meeting and the opportunity to discuss the document with the entrepreneurs.

- This is a problem which burdens everyone, especially frustrates those who pay their duties regularly. This law will help debtors, but the biggest ones are state-owned enterprises. It is concerning that over 60 percent of the debt relates to the contributions. We believe that this law is the best alternative, and it is very important to be the result of agreement between the state and business associations, as the necessary support of the economy, Mr. Konjevic says.

According to him, the key limitation to this law is state aid policy. Namely, this law will not be sent to the Government or the Parliament without the positive opinion of the European Commission. He also believes that it is a high probability for such a positive opinion.

Specific suggestions were given by representatives of Veletex AD, Comp Comerc doo, Montenegro Airlines doo, Coal Mine Pljevlja AD, Jadroagent doo, Port of Bar AD, Primat doo, Stadion doo, Celebic doo, KAP and others.

Opinion and individual suggestions to the prepared text of the draft law on behalf of the CEM were presented by Mr. Aleksandar Mitrovic, Head of Department for Legal and General Affairs, who emphasized the need to simplify the procedure of approving the requests of companies, for the purpose of more efficient and cost-effective implementation.

After the meeting it is estimated that the Professional Department of the CEM and the Ministry of Finance will continue consultations during the public debate on the draft law in order to promote the norms and rules of restructuring procedure i.e. tax credits.