Montenegro: Draft law on temporary solidarity contribution (windfall profits tax)
Comments on the draft law are invited through 20 March 2023.
Comments on the draft law are invited through 20 March 2023.
The government on 27 February 2023 released the draft law on solidarity contribution (windfall profits tax) for public consultation.
Comments on the draft law are invited through 20 March 2023.
The main features of the draft law include:
- Introduced as an extraordinary and temporary measure that will apply only for 2023 and 2024
- Applicable to all corporate taxpayers with annual revenue in excess of €5,000,000 in the year preceding the year of assessment (2022 and/or 2023) and represents additional tax applicable in addition to corporate income tax payable for 2022 and 2023
- 33% tax on taxable profits (determined in accordance with the corporate income tax law) realized in the fiscal years 2022 and 2023, decreased for average taxable profits realized for 2018, 2019, 2020 and 2021 (excluding any year(s) during which tax losses were declared) increased by 20%
- Self-assessed by taxpayers
- Deadlines for filling respective return and paying solidarity contribution are 30 June 2023 (for 2022 profits) and 30 June 2024 (for 2023 profits)
Read a March 2023 report [PDF 235 KB] prepared by the KPMG member firm in Montenegro
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