The Czech Republic Senate announced on Wednesday, 29 May, 2024, that it has completed the ratification of the pending income tax treaty with Montenegro.
First signed on 20 February, 2024, the income tax treaty will go into force starting 1 January, 2025, after the ratification instruments are exchanged.
In order to prevent income from being taxed twice and to deter tax evasion, the agreement aims to enhance economic collaboration between the two nations by alleviating the administrative and fiscal burden, thereby offering assistance to current investments and encouraging new ones through various incentives.
Once effective, this treaty will supersede the 2004 tax treaty between the Czech Republic and the former Serbia and Montenegro in 2024.
