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Agenda of the Ministry of Finance BULLETIN OF THE MINISTRY OF FINANCE/JANUARY-MARCH 2006 This Law will regulate, pursuant to Article 8 paragraph 2 of the Law on Restitution of Dispossessed Property Rights and Indemnification (''Official Gazette of the Republic of Montenegro'', No. 21/04), conditions, manner and procedure of restitution of rights of ownership and other property rights and religious communities indemnification for rights dispossessed for the benefit of nation-wide, public, social and cooperative ownership. Analyzer: Ministry of Finance Rok: II quarter Working group in charge: Commission for Financial System and Public Expenditures Commission for Political System and Internal Policy 8. Draft Law on Amendments and Supplements to the Law on Money- Laundering Prevention and Terrorism Financing This Law will harmonize the applicable law with the ''Directive 2005 of the European Parliament and Council of Europe on prevention of using financial system for the purpose of money laundering and terrorism financing''. Analyzer: Ministry of Finance in cooperation with the Anti Money-Laundering Agency Rok: II quarter Working group in charge: Commission for Financial System and Public Expenditures Commission for Political System and Internal Policy 9.Draft Law on State Aid Control This Law will regulate general conditions and rules for preparation, allocation, control of allocation and usage of state aid, and subsequent state aid approval and reimbursement. Analyzer: Ministry of Finance Rok: II quarter Working group in charge: Commission for Financial System and Public Expenditures 10. Draft Law on Tax Advisors This Law will regulate the tax advisors activities as an independent and autonomous occupation, their authorizations and obligations, aiming at creation of better prerequisites for a more efficient tax laws application. Analyzer: Ministry of Finance Rok: II quarter Working group in charge: Commission for Financial System and Public Expenditures 11.Draft Law on Budget of the Republic of Montenegro for 2007 Analyzer: Ministry of Finance Term: November, 30, 2006 Working groups in charge: Commission for Financial System and Public Expenditures Commission for Economic Policy and Economic Development Commission for Political System and Internal Policy Commission for Budget 12.Draft Law on Amendments and Supplements of the Law on Local Self- Governanace Funding This Law will bring about improvement of the existing solutions, which are related to specifying the criteria to be used for allocation of funds of the Equalization Fund, as well as specifying own source revenues types, which can be introduced by municipalities in the framework of their regulations. Analyzer: Ministry of Finance in cooperation with the Ministry of Justice Rok: III quarter Working group in charge: Commission for Financial System and Public Expenditures Commission for Political System and Internal Policy 13.Draft Law on Amendments and Supplements of the Customs Law This Law will make adjustments to the existing solutions with the new standards of EU, WTO, GATA, as well as the other international organizations. Analyzer: Ministry of Finance in cooperation with Minsitry for Foreign Economic Relations and European Integration and Customs Administration Rok: III quarter Working group in charge: Commission for Financial System and Public Expenditures Commission for Economic Policy and Economic Development 14.Draft Law on Banks This Law will promote the solutions from the existing law, make adjustments to the international standards in this area (EU Directives and Recommendations (CAD III), Bazel II) and create prerequisites for banking market expansion by introducing foreign banks’ branches without legal entity status into the banking system. Analyzer: Ministry of Finance in cooperation with the Central Bank of Montenegro Rok: IIi quarter Working group in charge: Commission for Financial System and Public Expenditures 15. Draft Law on Amendments and Supplements to the Law on Central Bank of Montenegro This Law will add new and harmonize the existing solutions with the international practice respecting the needs of adjustment to the economic ambience and development plans of Montenegro. Analyzer: Ministry of Finance in cooperation with the Central Bank of Montenegro Rok: IIi quarter Working group in charge: Commission for Financial System and Public Expenditures III. BYLAW ACTS 1.Decree on appearance and contents of the control excise stamp, manner and procedure of approval, printing and issuing and manner of keeping records about issued, used and unused excise stamps This Decree will regulate, in accordance with the Law on Amendments and Supplements to the Law on Excises, appearance and contents of the control excise stamp, manner and procedure of approval, printing and issuing, manner of marking and keeping records about used and unused excise stamps. Analyzer: Ministry of Finance in cooperation with Tax Administration Rok: I quarter Working group in charge: Commission for Financial System and Public Expenditures Commission for Economic Policy and Economic Development 2.Decree on Amendments to the Decree for Customs Law Implementation This Decree will provide for a relevant adjustment of terminology, in accordance with amendments and supplements to the Customs Law. Analyzer: Ministry of Finance in cooperation with the Minsitry for Foreign Economic Relations and European Integration and Customs Administration Rok: III quarter Working group in charge: Commission for Financial System and Public Expenditures Commission for Economic Policy and Economic Development 40
Activities of the minister BULLETIN OF THE MINISTRY OF FINANCE/JANUARY-MARCH 2006 Review of the most important activities of the Minister of Finance january- march 2006 March 24, 2006 - Vienna: Credit Contract for Medical Equipment Procurement Funding signed between the Healthcare Fund of the Republic of Montenegro and Austrian «Erste bank» "Signing of the Credit Contract for Medical Equipment Procurement Funding between the Healthcare Fund of the Republic of Montenegro and Austrian «Erste bank», to the total amount of 4.108.250,00 Euro". “Arrangement with the “ Erste bank” enabled the procurement of high quality equipment which should promote the Montenegrin Health System and increase the possibilities of our citizens’ medical treatment, said the Minister Lukšić. The arrangement is very favorable, approved according to the OECD conventional conditions, and it practically consists of a significant percentage of donation, because it is subsidized by the Austrian Government”. March 20, 2006 – The Minister of Finance Igor Lukšić held talks with the Ambassador of India to Serbia and Montenegro Lavania Prasad "The Minister Lukšić pointed to the results achieved by the Government in the framework of the overall Montenegrin economic system improvement, informed about the basic macroeconomic indicators and emphasized successive improvement, which was evidently achieved in the last three years. He said that realization of stabilization measures and structural reforms led to constant increase of real GDP growth in the last four years so that the preliminary estimated rate for 2005 amounted to 4,1% and informed that the consolidated budget deficit was around 2,7% of GDP in 2005, and aggregate consolidated expenditure in the last years decreased from over 48% in 2003 to 46% in 2005 with the plan of 44,5% of GDP in 2006. In addition, the Minister Lukšić pointed to the successful finalization of arrangement with the IMF, good cooperation with the World Bank and underlined that he expected also the integration process acceleration in the forthcoming period". March 16, 2006 – Statement of the Minister of Finance Igor Lukšić following the session of the Government of the Republic of Montenegro on the occasion of Information on the Project "1000 housing credits", Proposal for keeping records of savers who are the citizens of Montenegro, who deposited foreign currency savings with the banks outside the territory of Montenegro and Analysis of the tax policy realization for 2005. “Thousand of housing credits with the interest rate of four percent. The banks will calculate the interest rate of 6.4 percent and the Government will subsidize 2.4 percent. The credits will not be offered only to the Public Administration but also to the wider public”. Neither the European states have cheap housing credits”. March 14, 2006 – Receipts of the Republican Budget for the period from January 1 to February 28, 2006 "Own source revenues in February 2006 are higher by 15,36% in comparison to the planned and by 52,33% in comparison to realization in February 2005. Higher realization in comparison to the plan has been evident in relation to all kinds of revenues (Personal Income Tax by 3,14%; Corporate Income Tax by 2,7 times; Tax on Transfer of Real Estate and Rights by 63,98%; Value Added Tax by 24,71%, Excises by 8,89%; International Trade and Transactions Tax by 27,19%, other republican taxes by 41,92%; fees by 27,67%; compensations by 53,74%). Higher realization in February 2006 has been evident in relation to all own source revenues in comparison to the same month of the previous year. Receipts of the Republican Budget for the first two months of 2006 have been realized to the amount of 62.340.387,30 eur. Own source revenues earned to the amount of 61.650.449,41 eur, for January and February 2006 are higher by 9.009.524,97 eur or 17,12% in comparison to the planned and by 20.626.372,96 eur or 50,28% in comparison to the same period in 2005. Higher realization has been evidently achieved in relation to all kinds of taxes in this period (except for the Personal Income Tax - 92,97%), court fees, compensation for games of chance organization, compensation for roads and revenues earned by the institutions’ performance of duties ". 41
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Page 5 and 6: TABLE OF CONTENTS BULLETIN OF THE M
Page 7 and 8: Introduction BULLETIN OF THE MINIST
Page 9 and 10: PROJECT "1000 HOUSING CREDITS” BU
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Page 13 and 14: Guidebook to the tax system BULLETI
Page 21 and 22: Budget suficit BULLETIN OF THE MINI
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Page 25 and 26: Tax administration BULLETIN OF THE
Page 27 and 28: Public debt BULLETIN OF THE MINISTR
Page 29 and 30: World Bank and Relations with the W
Page 31 and 32: State aid BULLETIN OF THE MINISTRY
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Page 35 and 36: Enforcement of claims BULLETIN OF T
Page 37 and 38: Functioning of the games of chance
Page 39 and 40: Agenda of the Ministry of Finance B
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Page 45 and 46: Macrofiscal report BULLETIN OF THE

director - Ministarstvo finansija

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