Parliament adopted amendments to the Payment Services Law on 10 July, with 42 votes in favour and no votes against or abstentions. The amendments provide a legal basis for real-time payment access 24 hours a day, seven days a week, mandatory verification of payment recipients and stronger protection against fraud and incorrect transfers.
The reform should increase competition among banks and payment-service providers and create space for fintech products. Its commercial value will depend on the speed of technical integration by banks, the Central Bank and merchants.
A new VAT law presented on 9 July aligns Montenegro more closely with EU Directive 2006/112, without changing the general or reduced VAT rates. It introduces a framework for electronic invoicing, digital reporting, stronger cross-border information exchange and expanded reporting for digital platforms, cryptoassets and certain international tax arrangements.
The law should improve auditability and reduce parts of the informal economy, but implementation will require investment in accounting software, tax-administration systems and internal controls. Smaller businesses in tourism, retail and professional services are likely to experience the largest proportional compliance burden.
Tax enforcement is already becoming more visible. Between 1 May and 8 July, authorities carried out 1,129 inspections, identified irregularities at 177 taxpayers, temporarily closed 14 facilities and imposed fines totalling €910,800. The largest concentration of irregularities was reported in Budva.
