- Montenegro introduced a 5% sales tax on used vehicles, watercraft, aircraft, and spacecraft where input VAT was not previously deducted.
- A reduced 2.5% tax applies to transfers within 180 days of the law’s start.
- The buyer is responsible for the tax, calculated on market value as verified by authorities.
- Exemptions include transfers among close family, inheritances, and government donations.
- Taxpayers must request tax determination within 15 days of acquisition; fines apply for noncompliance.
- The law takes effect November 8.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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