The deputies have concluded the discussion regarding the amendments to the Law on Tax Administration, Payment Transactions, and the Law on Voluntary Pension Funds, with a statement to be released at a later time.

The hearing concerning the ratification of the agreement between Montenegro and Andorra aimed at eliminating double taxation on property has also reached its conclusion.

At the end of the session, Deputy Speaker of the Parliament Zdenka Popović declared that the debate is complete and that a vote will be held subsequently.

In his introductory remarks regarding the amendments to the Law on Tax Administration, Finance Minister Novica Vuković noted that Montenegro became a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes in 2018, thereby committing to execute the necessary measures.

“Currently, the existing law only partially adheres to these standards. The proposed amendments are designed to ensure full compliance with the joint reporting standard… These changes will pave the way for the initiation of the automatic exchange of financial accounts, subsequently removing Montenegro from the list of countries failing to meet tax transparency standards,” Vuković stated.

Addressing the Uncollected 600 Million

New Serbian Democracy (NSD) MP Dejan Đurović commented that this legislation should resolve the tax issues and emphasized that collecting the 600 million euros owed to the state would greatly impact the lives of Montenegrin citizens.

“The majority of this 600 million pertains to the first family, with ‘Vektra’ being the largest debtor and Mr. Brković in question. I am hopeful that we can recover at least some of this amount through enforced collection measures. This law should have been passed earlier, when Brković possessed assets capable of yielding 115 million euros. At this moment, those assets are no longer available, but we aim to retrieve whatever we can. Additionally, we are facing a fictitious tax debt with ‘Port of Montenegro’ amounting to 80 million due to non-payment of profits tax, which has now increased from nine to fifteen percent,” Đurović articulated.

He noted that trusts had been set up for 80 years, enabling these companies to operate, yet they were shut down once the political power shifted. Đurović questioned the president’s motives behind establishing companies in the Virgin Islands.

“What were the reactions of other countries when the Pandora’s box was opened? In Latin America, the focus has been on political accountability… Do we need to be less responsible than Chile and Ecuador? We can enact laws and implement them, but we must also ensure that justice is served in a manner that earns citizens’ trust. Paying taxes reflects a dedication to the country, whereas this individual displays a tendency to exploit it,” Đurović emphasized.

Democratic MP Zdenka Popović interjected that Đurović overlooked the debts owed by transition tycoons and that this law’s passage will ultimately reveal the foreign accounts of local millionaires and billionaires. She stressed that failing to pass this regulation endangers financial stability, as it obstructs efforts against terrorism financing and suspicious transactions.

“I believe the opposition’s resistance roots from this fear—not from budgetary disagreements. I suspect that emerging businessmen are particularly wary of this law because of its importance for EU integration. We will eventually uncover those who have hidden behind nationalist rhetoric while misappropriating funds—these individuals will be held accountable for every stolen cent,” Popović stated, amid comments from her party members indicating that funds would be generated for investment in various projects.

Democratic People’s Party MP Dragan Bojović expressed his confusion regarding the opposition’s self-destructive tendencies in obstructing essential legal measures, stressing that these laws concern the wellbeing of the state. He highlighted the necessity of taxing wealthy individuals with slush funds to enhance fiscal collection.

Need for Timely Legislation

Finance Minister Novica Vuković, while discussing the amendments to the Law on Payment Transactions, pointed out that their approval establishes the groundwork for aligning Montenegrin law with European standards—one of the key requirements for finalizing Chapter 4 concerning the free movement of capital.

Central Bank Governor Irena Radović remarked that the law’s implementation would facilitate efficient and modern payment methods, reduce costs, and improve service quality. She asserted that these amendments are essential for the establishment of a payment transaction authority, with the Central Bank serving as the regulatory body in this domain.

“We cannot expect our system to be prepared while the new laws remain unapproved; rather than commencing in June, we will now start in October. I urge the prompt adoption of the 16 laws we submitted in September and October to facilitate the closure of Chapter 4. Timeliness is crucial,” Radović insisted.

MPs from the New Serbian Democracy have pledged their support for this law.

Socialist People’s Party MP Slađana Kaluđerović raised concerns with Radović about the delay in the enactment of this regulation, particularly since the adoption timeline was set for January 15. Popović echoed this inquiry.

Concerning the Draft Law on Voluntary Pension Funds, Vuković stated that the passage of these regulations would align Montenegrin law with EU standards while providing a legal framework for managing such funds.

Željko Drinčić, President of the Capital Market Commission, highlighted that this represents one of six laws the Commission has worked on over the past two years.

Political Tensions in Budva

MP Jevrosima Pejović from the special parliamentary group criticized the coalition that has long held Montenegro hostage to divisive nationalism, noting that whenever necessary, Speaker of the Parliament Andrija Mandić and former President Milo Đukanović seem to find common ground.

“This longstanding collaboration culminated in a deal dubbed ‘You give us Budva, and we’ll ignore your budget approval and borrowing endeavours.’ It would have been prudent to incorporate Šavnik into this bargain, as you seem to leverage that municipality to appease Brussels diplomats… You are effectively holding these individuals hostage,” she stated, asserting that citizens support such coalitions with every vote.

New Serbian Democracy MP Velimir Đoković countered, expressing his astonishment at Pejović’s claims, asserting that cooperation with DPS is unfounded, as they have been the opposition for many years. He remarked that their struggle ultimately led to victory on August 30, 2020.

“The citizens of Šavnik, whether represented by activists from our party or others, will not permit the redefinition of electoral rights in Šavnik. I stand fully with these citizens in their quest to prevent their municipality from being administered by individuals elected with votes from outside their community. It is evident that the unnatural coalition in Budva has betrayed its voters,” he asserted.

Pejović added that they have trampled on the rights of Šavnik residents to lead dignified lives, all while defending their political aspirations. She commented that the asset disclosures of party leaders indicate that they are not in jeopardy.

Đoković concluded that there was no need to elaborate further, as years of their efforts against DPS speak volumes.

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