Igor Živkovski, Živković Samardžić Corporate and M&A Partner, authored articles titled Highlights of Serbia’s Tax System and Taxation in Montenegro, which were published in the CEE Legal Matters magazine’s October issue.
The article titled Highlights of Serbia’s Tax System reflects Igor’s conviction that Serbia’s tax system is highly conducive to investment. Apart from tax rates that are among the lowest in Europe, investors can benefit from available tax incentives which create excellent startup conditions. The Republic of Serbia has signed comprehensive Double Taxation Agreements with 60 countries based on the OECD Model Tax Convention.
Nevertheless, the Serbian economy faces many problems and challenges. One of the key problems, most certainly, is the gray economy, which primarily refers to tax evasion: the non-declaration of income in order to avoid tax obligations, with the goal of increasing total earnings.
Full text of this article is available here.
In the article titled Taxation in Montenegro, Igor states that Montenegro has made great efforts to fight the gray economy and shadow labor market by sanctioning irregular business operations, demonstrating that it is striving for progress, a modernized tax system, and harmonization with the legislation of the European Union.
The tax system of Montenegro treats foreign investors and domestic economic entities the same, which is of great importance for attracting investors.
Full text of this article is available here.
CEE Legal Matters is a print and online publication for and about lawyers interested and working in Europe’s emerging legal markets, featuring news, interviews, analysis, opinion, and more with a mission to be the go-to source of information about lawyers and legal markets in Central and Eastern Europe.
This Article was originally published in Issue 7.9 of the CEE Legal Matters Magazine. If you would like to receive a hard copy of the magazine, you can subscribe here.