Montenegro and Liechtenstein expect to conclude an agreement on the elimination of double taxation as soon as possible, which will contribute to the further development of economic relations between the two countries.
The Ministry of Finance announced that the Government today adopted a report on the results of negotiations regarding the conclusion of an agreement between Montenegro and Liechtenstein on the elimination of double taxation with respect to income and property taxes, as well as the prevention of tax evasion and avoidance.
Negotiations between delegations regarding the conclusion of an agreement between the two countries were held in Podgorica from March 11 to 13 this year.
"During the negotiations, which were conducted in a friendly tone and atmosphere of mutual understanding and cooperation, full agreement was reached on all provisions regulated by the contract in question," the statement said.
After the negotiations were completed, the Ministry of Finance prepared a report on the results of the negotiations.
"Both delegations expressed their readiness to conclude the agreement as soon as possible, thus ensuring the elimination of double taxation of income of residents of both contracting states, the removal of tax obstacles to foreign investments, the application of the principle of equal tax treatment of natural and legal persons of the contracting states, the improvement of scientific, cultural and sports cooperation, as well as political relations between the contracting states," the statement said.
It is expected that the implementation of the agreement will contribute to the further development of economic relations between the two countries, while strengthening legal certainty for taxpayers and more efficient exchange of information between tax administrations.
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