Amendments on the Corporate Income Tax Return in MNE | KPMG | ME

Amendments to the Rulebook on the Corporate Income Tax Return in Montenegro

Amendments on the Corporate Income Tax Return in MNE

Montenegrin Ministry of Finance adopted the Rulebook on the Amendments to the Rulebook on Form and Content of the Corporate Income Tax Return (Official Gazette of Montenegro no 78/2017

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Please note that the Montenegrin Ministry of Finance adopted the Rulebook on the Amendments to the Rulebook on Form and Content of the Corporate Income Tax Return (Official Gazette of Montenegro no 78/2017; hereinafter: the Rulebook).

The Rulebook entered into force on 1 December 2017 and applies for preparation of 2017 corporate income tax (CIT) return.

The Rulebook aligns previous CIT return form (PD Form) with amendments of the CIT Law applicable as of 1 January 2017. Most significant amendments encompass the following:

• Information on tax consolidation;

• Deduction of salary cost, severance payments, costs related to termination of employment on cash basis; 

• Non-deductible impairment cost assessed as a difference between net present value of assets in line with International Accounting Standards and International Financial Reporting Standards and their net realizable value; 

• Deduction of impairment cost when assets are sold or damaged due to force majeure;

• Tax exempt income from collection of doubtful receivables that were non-deductible in prior tax periods.

Please feel free to contact us for any questions you might have in relation to the Rulebook.


KPMG Tax & Legal Department

KPMG d.o.o. Podgorica
Svetlane Kane Radević
381000 Podgorica
Montenegro

Office: +382-20-201-480

tax@kpmg.rs

www.kpmg.com/me

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