MGT Montenegro
TR

Accounting & Bookkeeping Services

We handle all the accounting and tax obligations of your Montenegrin company with full local compliance and clear communication — so you can focus on your business.

Setting up a company in Montenegro is the first step; true continuity comes from regular accounting and tax compliance. Returns are filed in the local language and through an electronic system, VAT and payroll have monthly deadlines, and corporate tax is filed at year-end. When these obligations slip, penalties and problems with residence/company renewal can arise. At MGT Montenegro, working with local accountants, we keep your books in order, meet obligations on time and report to you in clear language.

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Who is this service for?

  • Entrepreneurs forming a new company in Montenegro who want an orderly accounting setup from the start.
  • Company owners dissatisfied with their current accountant or wanting communication in their own language.
  • Investors planning residence via a company who must regularly meet the minimum tax/social-security base.
  • Businesses invoicing between Türkiye and Montenegro who want clarity on double taxation and compliance.

Scope — What’s included?

  • Monthly bookkeeping and record-keeping
  • VAT calculation, filing and tracking
  • Payroll preparation, salary and social security (SGK) filings
  • Corporate tax (year-end) filing and closing procedures
  • Processing of supplier/customer invoices and expense documents
  • Correspondence and follow-up with official authorities
  • Periodic financial reporting (a clear, understandable summary in your language)
  • Coordination with tax planning

Why is a local accountant essential?

  • Language and system: Returns are filed in Montenegro’s official language and through the local electronic system.
  • Monthly deadlines: Obligations such as VAT must be met regularly and on time; delays incur penalties.
  • Local legislation tracking: Rates and rules can be updated (especially during EU alignment); local tracking is essential.
  • Link to residence/company renewal: For residence via a company, the company’s regular tax/social-security payment is critical for renewal.

Process — How we work

  1. Handover/start. We take over your existing records or set up the structure from scratch for a new company.
  2. Document flow. We clarify how and how often you will send your invoices and expenses.
  3. Monthly procedures. Bookkeeping, VAT and payroll are run regularly each month.
  4. Reporting. We periodically share your company’s status in a plain summary.
  5. Year-end. Corporate tax filing and closing procedures are completed.

Current 2026 tax & obligation note

  • VAT: Standard rate 21%, reduced 7% on some items. VAT registration becomes mandatory once 12-month turnover exceeds €30,000 (voluntary registration possible below). VAT filings/payments are made electronically in monthly periods.
  • Payroll / social security: The October 2024 reform (Europe Now 2) lowered the pension contribution rate and abolished the health contribution; this noticeably reduced the burden on wages. A local surtax (depending on municipality) also applies, higher in Podgorica and Cetinje.
  • Income tax: Progressive on salaries — 0% up to €700, 9% from €700–€1,000, 15% above.
  • Corporate tax: Progressive 9% / 12% / 15% (by profit bracket). The annual corporate tax return is generally filed within a set period after the end of the fiscal year.

(Sources: PwC Tax Summaries; 2026 legislation — verify before publishing.)

Frequently asked questions

Am I required to register for VAT?
If your 12-month turnover exceeds €30,000, VAT registration becomes mandatory. Below that, voluntary registration is possible; we assess together which is advantageous for you.
How should I send my invoices?
At the start we set up a simple arrangement together (digital sharing, at set intervals). The aim is timely, complete recording each month.
What if I invoice between my Turkish company and my Montenegrin company?
In that case the double-taxation treaty and transfer pricing may come into play. We structure this in advance with our Tax Planning service.
What happens if I neglect accounting?
Delays can incur administrative penalties and, if you renew residence via a company, negatively affect the process. Regular tracking exists precisely to eliminate this risk.