Bulletin - Vlada Crne Gore

Review of other news
BULLETIN OF THE MINISTRY OF FINANCE/APRIL - JUNE 2006
REVIEW OF OTHER NEWS
- ACTIVITIES OF THE MINISTRY
OF FINANCE
Draft Law Amending and Supplementing Law on Personal
Income Tax for Private Persons since Friday 1st - 15th
July 2006 on public debate.
All interested subjects can send their proposals, suggestions
and opinions at e-mail address of the Ministry of Finance
mf@mn.yu or on fax: 224 450.
This will initiate the consideration of the amendments to
the Law on Personal Income Tax for Private Persons, which
is planned to introduce the proportional tax rate and its significant
reduction, and which should in 2010 be 9% (as is the
rate for profit tax for legal persons)
Payment of the third instalment to the owners of the
old foreign currency savings - 3rd July 2006.
To the owners of old foreign currency savings, which
mature on 1st July 2006, payment of the third instalment to
the amount defined by their plan of amortization will start
on Monday 3rd July in commercial banks and regional centres
of Central Bank of Montenegro. For the payment of
this, the third bond series from the Budget of the Republic is
planned 8,7 million EUR. Depositors that have after 1st July
reported to their bank and thus registered themselves at
CDA as bond owners based on converted savings can draw
the third instalment in regional centres of the Central Bank
of Montenegro and Pljevaljska Bank AD Pljevlja, depending
on their residence, based on their identification document
(identification card and passport).
The owners of old foreign currency savings, which haven't
used their right on payment of the first and second
bond series to the amount of 380 and 530 EUR can draw all
three instalments. They are to go to the bank in which they
have their savings deposit book, or to the related counter of
the Central Bank, where they will receive certificate on conversion
of savings into bonds.
Ministry of Finance of Montenegro has paid funds for
military pensions- for May 2006
Ministry of Finance has paid funds for military pensions
today (for May 2006). The payment will start on Saturday
24th June 2006.
Final announcement of the International Monetary
Fund Mission after the visit of that delegation to Montenegro
Independence for Montenegro represents the new beginning.
In that context, our goal is to offer suggestions on
how to use the best this unique chance in the macroeconomic
sphere.
Many things are progressing well. Inflation is low, public
debt has tendency to fall, collection of the VAT contributes
to the good realisation of income, direct foreign investments
are growing with new ones expected to come, banks are privatized,
credit activity is expanding, access to EU markets is
realised with allowances, and chances for achievement of
the Stabilisation and Association Agreement and for membership
in WTO and Partnership for Peace are good.
Your ambitions are appropriate. You are trying to achieve
permanent increase of economic growth, employment
and real income, both as independent goals and as basis for
entering EU one day.
These goals are achievable. For their achievement will
be necessary, first of all, operating, in order to provide maintenance
of regular terms for economic activity in the context
of independence, and second, bigger emphasis on middle-term
than on short-term goals in formulation of macroeconomic
policies, especially in terms of flexibility, sustainability
and offer.
Independence
- Your sovereignty should be fully reflected in legal solutions,
which regulate your international economic relations.
It is necessary to be understood that agreements previously
made between Serbia and Montenegro and international
community on questions like free trade in the region, veterinary
standards, double taxation, etc. now you yourselves
should accomplish in order to provide continuing regular
terms for economic activity. Furthermore, legal regulations
concerning economic relations with Serbia should be clarified.
Main issues are matter of stay of citizens from one sta-
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