Tax: recent news highlights — August 2012

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The Ministry of Finance of Montenegro released the Rulebook on the Manner and Procedure for the Refund of Overpaid Social Security Contributions and the Rulebook on the Form, Content and Procedure for Issuing a Certificate of Residency for Tax Purposes. Both rulebooks were published in the Official Gazette of Montenegro no. 42/2012 from 31 July 2012 and came into force on 8 August 2012. The Government of Montenegro, on its session held on 5 July 2012, adopted the Decree on the Customs Tariff, which was published in the Official Gazette of Montenegro no. 43/2012 dated 2 August 2012 and which came into force on 10 August 2012.

The rulebook for Refund of Overpaid Contributions provides that the refund of social security contributions paid for the previous year will be made by the end of the calendar year. The Rulebook for the Refund of Overpaid Contributions also prescribes the specific form required for the application for a refund of overpaid contributions. Namely, the insured person shall submit what is called a “ZPDO Form” and the payer of income shall submit what is called a “ZPDI Form”…

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