Since January 1, 2018 in Montenegro, the law on increasing the amount of VAT from 19 to 21%
, as well as increasing excise taxes on tobacco and prices for fuel and electricity
, has come into force. The reduced rate of 7%, on which VAT is calculated and paid for goods and services provided for by law, remains unchanged.
From today, because of the current amendments to the law, the excise tax on cigarettes has increased from 30 to 40 euros per thousand pieces
. Based on the data provided by the three major cigarette importers, it is expected that in Montenegro the increase in the price of tobacco will average from 30 to 50 cents per pack of cigarettes
. Note that last year the excise tax was increased twice: in early April and August 1st, which led to a rise in price of cigarettes in general by 40 cents.
The increase in the excise tax on cigarettes, as well as on ethyl alcohol and carbonated water with the addition of sugar is planned once a year, until 2020.
From January 1 in Montenegro, the price on electricity will also rise. The price for electricity for homes and small businesses will grow by 2.7%
. In addition, the Ministry of Economy of Montenegro announced that the cost of all types of fuel will increase by 2 cents
, due to the increase in the value-added tax (VAT) rate. Now a liter of gasoline 95 and 98 will cost 1.3 euros, the price of diesel fuel will be 1.18 euros
, and fuel oil for wholesale buyers - 1.15 euros.
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