Luxembourg’s Chamber of Deputies approved the draft law to ratify the income and capital tax treaty with Montenegro on 21 November 2024.
Earlier, Luxembourg’s Council of State approved the draft law for the ratification of the income and capital tax treaty with Montenegro on 24 September 2024.
The treaty, signed on 29 January 2024 in Luxembourg, establishes tax rates for dividends, interest, and royalties between the two countries. Luxembourg employs a mix of credit and exemption methods to avoid double taxation, whereas Montenegro uses the credit method.