Montenegro released a draft law which would introduce a temporary windfall profits tax (officially dubbed “solidarity contribution”). Salient features of the draft include:
- The tax would be due at the rate of 33% on “excess profits” generated in 2022 and 2023 by companies whose revenues exceeded EUR 5 million in 2022 and/or 2023;
- Excess profits are defined as taxable profits as determined for corporate tax purposes in 2022 and 23, that are in excess by more than 20% of the profits generated …