Bankruptcy in state owned daily Pobjeda - Equal treatment for all

Podgorica, Montenegro (22 July 2014) – Montenegro’s Tax Administration will file tomorrow a petition for bankruptcy of the state owned daily “Pobjeda” as the state was unable to collect tax claims from the company amounting to approximately EUR 1.154 million.

Tax Administration has repeatedly tried to collect the aforementioned claims by employing necessary collection and enforcement measures. Having exhausted all other mechanisms, it is forced to initiate the bankruptcy proceedings in order to collect tax claims, primarily those related to taxes and benefits for employees from the bankruptcy estate of the company.

Initiation of the bankruptcy proceedings over the company confirms the principle of non-selectivity which implies that state-owned enterprises do not have and must not have preferential treatment compared to other businesses in the domestic market.