121. rulebook on implementation of the law on value added tax

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<strong>121.</strong> RULEBOOK ON IMPLEMENTATION OF THE LAW ON VALUE ADDED TAX (Succession) Transfer of property rights form the defunct to one or more successors, in the event that business activity will be continued, shall not be taxable. Article 16 (Use and sale of pledged goods) (1) Should the secured creditor use the pledged item against the reimbursement, it shall be considered as a taxable service. (2) When selling the pledged item, two taxable supplies will be performed. The first supply by a pledgor towards the secured creditor and the second supply by the secured creditor to the purchaser of the pledged item. (3) The provisions of paragraph 2 of this Article shall be applied accordingly to the transfer of pledged property rights. (4) Should the secured creditor fail to sell the pledged items, and the ownership right over the pledged items be transferred to it pursuant to the Contract Law, it shall be deemed that the supply has been conducted by the pledgor to the secured creditor. Article 17 (membership fees) (1) Should the person that is established by virtue of special regulations for the purpose of executing tasks envisaged by the charter, receive fees it shall not be considered as a compensation for performed supply of services. (2) If a membership contribution is determined under certain criteria and if it is equal for all members, it shall be considered as a membership fee referred to in paragraph 1 of this Article. (3) If the persons referred to in paragraph 1 of this Article perform supplies during the year that would be taxable in the amount exceeding EUR 18,000 they shall be VAT taxpayers. Article 18 (supply of goods and services to employees) (1) Should the employer give to his employees as compensation for the performed job not only monetary compensation but also compensation in goods and services, the supplies shall be taxable. (2) Any other supplies of goods and services executed or enabled by the taxpayer to employees (supply of food, drinks, transport service and any other benefits in goods and services) shall also be considered as the supply referred to in paragraph 1 of this Article. Article 19 Rulebook on Implementation of the Value Added Tax Law 6
<strong>121.</strong> RULEBOOK ON IMPLEMENTATION OF THE LAW ON VALUE ADDED TAX (shortage of goods) The shortage of goods shall be deemed the usage of goods for non-business purposes, with the exception of: shortage and losses incurred due to force majeure, shortage inseparably connected with the process of manufacture and processing of goods, shortage and destruction due to ullage, loose and breakage of goods inseparably connected with the storage and transport of goods in the actual scale, not larger than the ordinary, set by a professional association, or tax authority if not determined by the professional association. Article 20 (gifts of minor value ) (1) Gifts of minor value made in the furtherance of business activity of a taxpayer shall not be considered as taxable supplies provided those gifts are made occasionally and not to the same persons and the recipient is not obliged to execute any counter service. (2) The gift of minor value shall be considered to be all goods the individual value of which, without VAT, does not exceed EUR 30. Article 21 (usage of goods and services for non-business purposes) (1) Usage of goods or services for non-business related purposes shall be the exclusion of goods or usage of services for private purposes of a taxpayer, purposes of taxpayer’s family members and purposes of third persons to whom goods or services are ceded for non-business related purposes. (2) Expenses referred to in paragraph 1 of this Article shall be subject to VAT provided that a taxpayer when purchasing the goods and services for those purposes has exercised the right to VAT input tax deduction (hereinafter: input tax). 8. Import of goods Article 22 Import of goods into the country shall be taxable. Import of goods shall also mean entry, acceptance and other forms of import of goods regardless the purpose of bringing those goods within the customs territory of Montenegro. III TAXPAYERS AND OTHER TAX DEBTORS 1. Taxpayers Article 23 Rulebook on Implementation of the Value Added Tax Law 7
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121. rulebook on implementation of the law on value added tax

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