Business Deductions in MontenegroIn Montenegro deductions and business expenses may be claimed as specified below:
- Offset of losses: - A loss may be offset up to 5 years forward.
- There is no carry back for losses.
- Newly founded enterprise performing production activities in less developed areas is exempt from paying the corporate tax for the first eight of its business activities up to EUR 200,000.
The exemption does not apply to certain activities, e.g. agriculture.
- Self employed can deduct 30% of their income when resulting not from their primary activities.
Depreciation of Fixed Assets in MontenegroDepreciation of fixed assets in Montenegro includes assets that last more than one year, the value of which exceeds 200 Euro.
Fixed assets are divided into five groups, which are more precisely determined by the Minister of Finance.