FISCAL SOLUTIONS...
News
Public Montenegro Author: Kristina Dosen
The introduction of the electronic fiscalization system in Montenegro provides a number of positive effects, including an increase in public revenues, the suppression of the gray economy, the transparency of the tax system, and inspection supervision. The study, prepared by an external consultant, showed that the introduction of this system and the provision of data in real time will contribute to better monitoring of the work of taxpayers, which will result in more effective detection and sanctioning of the gray economy and therefore an increase in tax revenues, especially based on value-added tax.
Category:

Fiscal subject related

Views: 417
Content accuracy validation date: 05.03.2024
Content accuracy validation time: 08:23h

The main positive effects are:

  • Increasing public revenues through suppression of the gray economy
  • Significant reduction of unregistered traffic
  • Significantly facilitated and improved the work of inspection services.
  • A simple check of the validity of tax returns
  • Providing insight into the validity of fiscal receipts to citizens
  • Advanced analytics of tax revenues and the tax system

The system is based on the following basic principles:

  • Each fiscal receipt is registered in the central system of the Tax Administration when it is created and receives a QR code and a unique account number issued by the central system.
  • Security and reliability of data and transactions are ensured by the encryption of data through appropriate certificates for authentication and reliable electronic signing.

 

Other news from Montenegro