Montenegro: Covid-19-virus relief measures

2. April 2020 | Reading Time: 2 Min

Montenegro COVID-19 virus relief measures for companies in Montenegro

Montenegro: Covid-19-virus relief measures

The Government of Montenegro has implemented three packages of measures to support the economy and citizens in COVID19 crises in 2020.

  • The main first relief measures of the Montenegrin Government regarding COVID-19 were the delay of payment of loans received from financial institutions for all citizens and companies for a period of 90 days, the delay of payment of taxes and contributions on salaries for a period of 90 days. Moreover, loans for liquidity of the companies up to 3 million euros will be granted – grace period 2 years at an interest rate of 1.5 %.
  • The second set of measures was adopted in order to preserve jobs and create preconditions for a faster economic recovery.
  • Third package of economic measures includes: Subsidizing of interest rates for credit lines with IDF and commercial banks during the grace period for reprogramming existing (tourism and agriculture sectors) and new credit placements projects); Creating favorable credit lines (within the IDF and commercial banks) intended for financing short-term and long-term priority development projects; Tax relief by defining a lower VAT rate for certain areas and activities; Direct support to the economy through subsidizing the salaries of employees in certain areas.

Montenegro: Covid-19-virus relief measures Update 2021

The Government adopted a new package of measures to support the economy and citizens affected by COVID 19 for the first quarter of 2021.

Support to the Montenegrnian economy in 2021 includes following measures:

  • Support the economy through wage subsidies;
  • Postponement and rescheduling of income taxes and contributions;Support for new employment;
  • One – time business support for establishing an electronic fiscalization system;
  • Increasing the turnover limit from EUR 18,000 to EUR 30,000 as a condition for mandatory VAT registration;
  • Reducing the cost of renting state-owned space and deferring these obligations;
  • Reduction of VAT refund period;
  • Additional support measures for tourism and catering as well as for agriculture and fisheries.

COVID19- cee support programs for companies in CEE- TPA PDF

Interactive PDF with all COVID-19 measures by country:

The governments of different countries have decided on immediate actions to moderate the impact of the Covid-19 pandemic on their national economy. Our local experts from CEE/SEE present the details of the COVID-19 virus relief measures by 12 countries.

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