The government is preparing electronic fiscalization of all cash registers in Montenegro, but before June, they say, no one knows anything about the cost, benefits, and whether this means completely replacing the existing ones or just upgrading them with new software or hardware. (If we had the ability, this is where we would insert a confused smiley face.) The Ministry of Finance did say that the elaboration of a feasibility study on electronic fiscalization is planned, and that it should answer all questions. Planned and should. Okay.
Last year, the govt announced the project “Modernization of Tax Administration”, which was launched this January, funded from the World Bank loan.
Finance Minister Darko Radunovic recently said in parliament that the preconditions for electronic fiscalization of all cash registers are being created – primarily the law on electronic fiscalization.
The Govt explained earlier electronic fiscalization means data from the payment devices used by taxpayers will be sent directly to the Tax Administration’s server. This system involves real-time data transfer of every transaction in the trade of goods and services, which gives a complete insight into the realized revenues and calculated tax liabilities by the taxpayer. Oh yeah.
