Podgorica, (MINA-BUSINESS) – According to the Chamber of Commerce (PKCG), the newly proposed increase in corporate income tax, from the current 12 percent to 15 percent, has been proposed without any prior analysis or consultation with the business sector. 

The PKCG warned that such a move distances Montenegro from European standards.

“Instead of aligning with European standards, we are moving further away. This reflects the sentiment of the vast majority of business leaders and companies that form the backbone of Montenegro’s economy,” the Chamber stated in a press release.

The amendment to the Law on Corporate Income Tax, which proposes raising the rate to 15 percent, has been submitted to Parliament.

“This isn’t the only tax hike,” the Chamber added. “We’ve already seen increases in VAT for the tourism sector, excise duties, and other direct and indirect levies. While tax burdens across Europe are being maintained or even reduced, they continue to rise here.”

The Chamber shares the concerns of the business sector, warning that this is not simply about taxing profits, but a new burden on companies already facing difficult economic conditions. 

The press release states that, at a time when competitiveness is increasingly uncertain, companies should be using newly created value to invest in modernization, innovation, and productivity, not to cover the costs of an expanding public administration.