Montenegro's tax debt increases to 11% of GDP in 2012.

By bne IntelliNews March 21, 2013
Tax debt in Montenegro, calculated as the amount of outstanding tax liabilities of firms and households to the state, reached EUR 354mn at the end of 2012 or 10.6% of the full-year GDP projection, according to a statement of the country's tax administration. This amount excludes restructured liabilities (mainly local governments' tax debt) worth around EUR 32mn, as the latter refer to future payments. The outstanding debt related to unpaid VAT, excise duties and corporate taxes totalled EUR 266mn in 2012 and the major part of it was due by only 120 taxpayers. Unpaid taxes on personal income amounted to EUR 119.8mn. The Montenegrin ministry of finance said the resolution of the tax debt is one of its priorities this year as it will contribute to raising public revenues. In order to improve tax discipline the country intends to publish a list of the largest tax debtors as well as a list of the companies which are regularly servicing their liabilities to the state.
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