Montenegrin Ministry of Finance has finally adopted the Rulebook on content of tax return for income earned by non-resident legal entity based on capital gains and lease of movable or immovable property (hereinafter: the Rulebook).
The Rulebook was published in the Official Gazette of Montenegro no. 19/2019 as of 29 March 2019 and it entered into force on 6 April 2019.
Adoption of the Rulebook is prescribed by Article 29c paragraph 4 of the Corporate Income Tax Law (hereinafter: the CIT Law). Article 29c of the CIT Law prescribes that non-resident legal entity earning income from capital gains and lease of movable or immovable property on the territory of Montenegro must file tax return within 30 days from realizing the income. Tax return is filed with the appropriate Tax Authority via appointed tax proxy. Tax is assessed by the Tax Authority.
Even though Article 29c is effective as of 1 January 2017, content of tax return form was not prescribed prior to adoption of the Rulebook.
Tax return (attached to the Rulebook) encompasses the following four elements:
- Information on tax proxy appointed by non-resident,
- Information on non-resident income recipient,
- Information on capital gains/losses realized, and
- Information on income from lease of movable or immovable property.
In addition, tax return is accompanied with filing instructions.
Content of Capital Gain and Lease Income Tax return
Download and save the PDF version of this Tax Alert
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
Tax Alerts
Our regular newsletter provides you with updates on the latest changes of tax and accounting regulations as soon as a new rule is being approved.
