Press release from the 27th Cabinet session

During today's 27th session chaired by Prime Minister Milojko Spajić, the Montenegrin Cabinet adopted the Draft Law on Amendments to the Law on Inspection Supervision. The aim of this law is to provide comprehensive, uniform, proportionate, and efficient inspector procedures, ensuring professionalism and quality in the work of inspection bodies, which is crucial for the legal security of entities under supervision. The law addresses uncertainties faced by citizens and the economy in exercising their rights, especially given the upcoming period of increased inspection supervision in all areas.

Additionally, the Cabinet adopted the Draft Law on Amendments to the laws regulating inspection supervision to align them with the Law on Inspection Supervision. This amendment specifies that inspection supervision in areas regulated by these laws will be carried out by the competent administrative authority, with designated inspections or inspectors for specific administrative areas. 

Furthermore, the Cabinet adopted the Draft Law on the Ratification of the Agreement between Montenegro and the Czech Republic on the Elimination of Double Taxation and Prevention of Tax Evasion and Avoidance concerning Income Taxes. This agreement aims to remove tax barriers to the exchange of goods and services, movement of persons and capital, as well as technology and knowledge transfer, stimulating foreign investments and ensuring positive effects of tax incentives.

Moreover, the Cabinet endorsed the signing of the Financing Agreement between the United Nations Development Programme (UNDP) and the Ministry of Tourism, Ecology, Sustainable Development, and Northern Region Development for the implementation of the "Revitalization of Infrastructure and Management: Action for Ecological Leadership and Organizational Efficiency" project. The agreement aims to equip and occupy a new facility for the Ministry (Eco-building), strengthening the professional capacities of employees, ultimately positioning the Ministry as a leading institution in environmental protection. For the purpose of financing the aforementioned agreement, the Government has approved a sum of 2,032,400 euros.

In addition, the Cabinet approved the need to sign the Multilateral Agreement of Competent Authorities on the exchange of Country-by-Country Reports, aiming to facilitate automatic exchange of information on reports for tax purposes between signatory states.

The Cabinet adopted the Information on the initial basis for concluding a Credit Agreement for financing the Montenegrin Railway Enhancement Project between the European Investment Bank (EIB) and Montenegro, and has accepted the Draft Agreement on the Credit. In line with the Montenegro Budget Law for 2024, the State is authorised to finance projects through credit arrangements, including with the EIB, for the needs of the Montenegrin Railway Infrastructure and Maintenance of Railway Rolling Stock. The project aims to address speed limitations, enhance infrastructure reliability, reduce maintenance costs, improve safety on a 20 km rail section, and modernize locomotive and wagon maintenance capacities. With 50% of project funding allocated through investment grants, negotiations are underway for a credit agreement with the EIB, covering 50% of the estimated investment value. The total investment is estimated at around 80 million euros, with 35.5 million euros granted from available EU funds through the Western Balkans Investment Framework (WBIF), 40 million euros secured by Montenegro through a loan, and 4.5 million euros to be provided from own funds.

For full press release in Montenegrin, please click here.