Durutovic: Customs administration breaches Law on off shore companies
- Durutovic: Customs administration breaches Law on off shore companies
- Post By daniloc
- 12:24, 20 februar, 2002

Off shore bank Trinity International has today lodged a complaint to the Customs administration since it does not allow this bank duty exemptions on import of goods necessary for its work, which are prescribed by the Law on foundation and working of off shore companies.
"On 5 December the Customs administration passed the decree by which this bank was not allowed duty exemptions for money sacks, which are goods necessary for its working", said the lawyer of Trinity bank Tamara Durutovic for Montena-business.
The Customs administration has been for more then two months keeping the money sacks refusing to exempt this company from duty although according to Tamara Durutovic it has been predicted by the regulations that regulate work of off shore companies.
Off shore companies work under specific conditions since they are exempted from paying the sales, property and real estates taxes since they are working on the basis of this taxes and they have to pay a direct tax and employed income tax.
Durutovic claims that the Customs administration cites the Federal Customs Law and Republic Decree on Customs working even though the work of off shore companies is regulated by the Law on companies that work under specific conditions passed in Montenegro in 1996.
"In decision by which the Customs administration responded to our demand made in December intended for exemption from duty, it was said that according to the Federal customs law and Republic decree on customs dealing the money sacks were not fulfilling conditions for tax incentives", said Durutovic.
Durutovic claims that in the decision passed the Customs Administration does not have legal basis in the law on working of these companies on the basis of which Trinity International bank submitted the demand for duty exemption.
"In its demand the bank cites the regulations that regulates work of off shore companies, that is, the republic law on companies founded and working under the specific conditions and act 26 of that law prescribes duty exemption for goods intended for working of a company", said she.
She added that the Law on off shore companies guarantees legal security to the firms that work under special conditions since the incentives prescribed by this law cannot be reduced or made unfavorable in period of 15 years by changes of this or other laws.
Durutovic claims that the state is not applying its own regulations that control work of offshore companies.
"Value of Trinity International bank goods is not so important in the whole case but change of principles. The question is why the state subject do not want to apply regulations if Montenegro guarantees duty exemptions for off shore companies", said Durutovic and she added that the decision of the Customs administration may be a base for bringing legal charges against the state of Montenegro.
Montena-business could not today be informed on the position of the Customs administration on this matter since it was announced that the general director Miodrag Radusinovic who is the only authorized to issue the public announcements, was on a business trip and he is coming tonight.