User Guide on Resident Reporting on Foreign Current and Capital Transactions

USER GUIDE ON RESIDENT REPORTING ON FOREIGN CURRENT AND CAPITAL TRANSACTIONS Version 2.0 Podgorica, March 2019

2 INTRODUCTION This User Guide determines the manner of the electronic access and use of the service for submitting forms laid down in the Decision on keeping separate records on foreign current and capital transactions, and for submitting data on these transactions. It also determines the manner of completing the forms electronically through the internet portal of the Central Bank of Montenegro (CBCG) titled “Resident reporting.” This User Guide is used for filling in the following forms:  GU-1 – Report on non-residents’ construction services in the country  GU-2 – Report on residents’ construction services abroad  DI-1 – Report on non-residents’ direct investments in the country  DI-2 – Report on residents’ direct investments abroad  KZ-1 – Report on borrowing operations abroad  KO-1 – Report on lending operations abroad  TK-1 – Report on receivables for trade credits and advances  TK-2 – Report on liabilities for trade credits and advances  RN-1 – Report on the foreign account balance and turnover

3 PART I TECHNICAL USER GUIDE ON THE MANNER OF ELECTRONIC ACCESS AND USING THE SERVICE FOR SUBMITTING GU-1, GU-2, DI-1, DI-2, KZ-1, KO-1, TK-1, TK-2 and RN-1 FORMS

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1. General notes Services may be accessed through the Central Bank of Montenegro (CBCG) Portal titled “Izvještavanje rezidenata (Resident reporting), available at the address https://eportal.cbcg.me. The Portal is tested for Internet Explorer – versions 8, 9, 10 and 11, Mozilla Firefox and Google Chrome. We recommend using Internet Explorer 11. Using the Portal requires installing of Java (JRE), current version of Java is 1.8 Update 111.
2. Access to Portal To access the CBCG Portal, it is necessary to have the certificate issued by qualified certification body, on personal name (natural persons) or on the name of legal person that had authorised you. You have to install the certificate on the computer you will be accessing the portal, following the instructions from the qualified certification body. 2.1 Browser setting Internet Explorer To check whether the installation is successful, run Internet Explorer, click Tools and select Internet Options. Figure 1 – Internet options

5 Click on Content tab, then on Certificates. Figure 2 – List of certificates The list should contain the certificate issued by the qualified certification body (in this case PostaCG CA). Mozzila Firefox To use digital certificate in Mozzila Firefox browser, add it to the Security devices. Click on Menu -> Options -> Advanced -> Certificates Figure 3 – Setting of Mozilla Firefox browser (1)

6 Click on Security Devices. Figure 4 – Setting of Mozilla Firefox browser (2)

Click on button Load. On the next screen, enter the Module name (eToken), and then click on Browse to select the appropriate PKCS11 module. Figure 5 - Setting of Mozilla Firefox browser (3) Select $WINDIR\system32\etpkcs11.dll, where $WINDIR is the location where Windows is installed (for most Windows systems, it is c:\windows). If you are using Linux, select /usr/local/lib/libetpkcs11.so Click OK.

7 The Module eToken is now ready for use. If you inserted your token into a USB port on the computer, it will appear in the list (Figure 6). Figure 6 - Setting of Mozilla Firefox browser (4) Google Chrome From its version 45, Google Chrome no longer supports Java extension. To be able to sign documents digitally, install additional application that will enable it. Click on Menu -> Settings -> Extensions. Figure 7 – Setting of Google Chrome browser (1)

8 Click on hyperlink Get more extensions, and enter IE Tab into browser. Figure 8 – Setting of Google Chrome browser (2) Click on Add to Chrome, then click on Add Extension. Enter the address https://www.ietab.net/options into the browser. Under Auto URLs option, add the address https://eportal.cbcg.me/* (use the address https://eportal2.cbcg.me/* during testing). Figure 9 – Setting of Google Chrome browser (3) Click on button Add.

9 2.2 Access to Portal If you set the browser successfully, enter the address https://eportal.cbcg.me. You will access the CBCG Portal using the digital certificate (Figure 10). Figure 10 – A token containing digital certificate After inserting the certificate into USB port of the computer and typing the address into Web browser, the window will appear requiring you to confirm the certificate (Figure 11). Click OK. Figure 11 – Certificate confirmation After that, you have to enter the password for the certificate and click on OK (Figure 12), after which the window for certificate confirmation will appear. Figure 12 – Entering of password (bound to digital certificate) After the authentication, you will access the page for registration of user (if you have not registered so far), or the page for login if you are already registered.

10 3. Registration of users To register, fill in the following data into the registration form (Figure 13): o Srednje ime (Middle name) o Email adresu (E-mail address) o Broj telefona (Phone number) o Matični broj (ID number) o Adresu (Address) o Lozinka i potvrda lozinke (Password and Confirm password) The Password has to meet the following rules: o Minimum number of characters = 8 o Maximum number of characters = 20 o Minimum number of numerical characters = 1 o Minimum number of capital letters = 1 o Minimum number of small letters =1 o Minimum number of special characters = 1 ($#@%) To register on the CBCG Portal, you have to accept the Izvod iz Politike i Pravila bezbjednosti informacija (Extract from Information Security Policy and Rules), and the Izjavu o čuvanju poslovne tajne (Statement on Keeping Business Secret), which content you may read following the link (Figure 13). After entering all necessary data, click on the button Registracija (Registration), after which the login page opens. During the registration of users, the qualified certified body checks the certificate and the ID number. The certificate is accepted only if the response that the certificate is issued to the person (i.e. the person with that personal number) is affirmative. Figure 13 – Registration of users

11 NOTE: o Immediately after registration, all legal persons will be able to use the service for submitting reports (DI-1, DI-2, KZ-1, KO-1, RN-1, GU-1, GU-2, TK-1, TK-2). 4. User login After registration and accepting to accept the Extract from Information Security Policy and Rules, and the Statement on Keeping Business Secret, the window with the text of UPOZORENJE (WARNING) opens (Figure 14). Figure 14 – Warning when opening the login page

Figure 15 –User login On this page, you have to enter the password you selected during registration (Figure 15). Click on Prijavi se (login) will open the front page of the application (Figure 16), where you need to select the option: Izvještavanje kompanija (Reporting of companies).

12 Figure 16 – Front page On this page, you may choose one of the following options: o Pregled izvještaja (Overview of reports) – enables overview of submitted reports and entering new reports o Moji zahtjevi (My requests) – enables searching of non-residents who are in the CBCG system, and the overview and entry of new requests for registration of non-residents. NOTE: If the user forgot password, it can reset it and select new password by clicking on hyperlink Zaboravili ste lozinku? (Forgotten password) (Figure 15). After that, the page as shown in Figure 17 opens, where you have to enter the following data: o Email adresu (E-mail address) – which you used when registering o Matični broj (identification number) o Novu lozinku (new password) o Potvrdu lozinke (confirm password) After entering all necessary data, you will get information that the password was successfully changed, after which you can login to the system. Figure 17 – Resetting password

13 You can log off from the system by clicking Odjavi se (log off) in the upper right corner of the page. 5. Password change After logging in to the system, select the option Korisnik –> Promjena lozinke (User –> Password change) in the menu opens the page as shown in Figure 18, where you have to enter the following data: o Staru lozinku (old password) o Novu lozniku (new password) o Potvrdu nove lozinke (Confirm new password) If the user successfully entered all required data, it will get information that the password was successfully changed, and that it will be able to use new password for each next logging in on the system. Figure 18 – Password change 6. User data After the user logs in on the system, selection of the option Korisnik –> Korisnički podaci (User –

user data) in the menu opens the page as in Figure 19, where it may view and change user data.

14 Figure 19 – View and change of user data 7. Overview of reports Selection of the option Pregled izvještaja opens the page as in Figure 20, which contains basic data on all so far submitted reports. Figure 20 – Overview of submitted reports On this page, you may choose between the following options:

15 o Overview of reports – enables overview of submitted reports. If this is a draft version of the report, it will open the form for submitting report, and if is recorded or discarded report, it will open the overview form. o Storniraj izvještaj (Discard report) – enables discarding of already submitted report. o Obriši izvještaj (Delete report) – enables deleting the draft version of the report. o If you want to enter new report, select the report you want to submit, and Click on link Dostavi izvještaj (Submit report). For each report, the User guide for filling in is below the link for submitting. The General User guide is available at the front page (Figure 16). NOTE: o Report may be discarded only if the period for report submitting has not expired and unless reports from earlier periods were not submitted. o If the period for report submitting expired, you need to contact the CBCG with the request for discarding the report. o If reports for earlier periods have already been submitted, you need to discard them all, and enter new ones. (e.g. we want to discard report DI-1 for Q1/2016, and we have already submitted DI-1 for Q2/2016 and Q3/2016, first discard DI-1 for Q3/2016, discard DI-1 for Q2/2016 and finally DI-1 for Q1/2016. After that, re-enter DI-1 for Q1/2016, then DI-1 for Q2/2016, and DI-1 for Q3/2016) Filling in and submitting of all reports follows the same principle, thus we will demonstrate submitting of DI-1 report in this User Guide. After selecting the desired report from the menu (in this case DI-1), click on hyperlink Dostavi izvještaj (Submit report) (Figure 21). Figure 21 – Selection of reports you want to submit After this, the page for data entry opens, as in Figure 22.

16 Figure 22 – Data entry (1) o On this page, enter the required data into provided fields. Data entry fields are marked in white, while the fields in gray are descriptive, and you cannot enter data in them. o Navigating through the form (transition from one field to the next) is done by pressing the Tab key on the keyboard. o Mandatory fields are marked with *. o If, for some reason, we are not able to enter the complete report, we can save the draft version of the report clicking on the button Sačuvaj podatke (Save data) ( ), and re￾access it afterwards and continue data entry. It is simply sufficient to click on Sačuvaj podatke on any of pages, after which the user gets information that the draft has been saved. Only basic data and data in tables are saved. Data from sections data entry are considered temporary and will not be saved. There are many types of data entry fields: o Text fields filled in by the user. These fields are white. See the example below. o Text fields that are not filled in by the user. These fields are grey. See the example below. o Numeric fields filled in by the user. These fields are white. See the example below.

17 The amount is entered with decimal point. o Fields selected by choosing value from drop-down list. See the example below. Click on the arrow opens the drop-down list from which you select the appropriate value. o Radio fields. The user selects appropriate value by clicking on the circle in front of the title. See the example below. o Check fields. If the value is YES, the field is checked, and if it is NO, the field stays empty. See the example below. o Fields selected by selecting from the list of values. These fields are marked with the magnifying glass ( ) and they are in relation with corresponding codebooks. See the example below.

• If you know the corresponding codebook from the codebook, enter it into white text field and press Tab key on the keyboard. If the Code is correctly entered, the grey text field will show the name from the codebook. If the user entered incorrect code, it will receive information on error.
• Click on the magnifying glass (or double click on white text field) shows the corresponding codebook, as in the figure below.

18 The search criteria are entered into empty fields above each column. Click on ENTER gives search results. Select corresponding option from the codebook and press OK. After returning to the page, fields will be completed according to the selection. After entering all data into the corresponding fields, we go to the next page by clicking the appropriate hyperlink at the top of the page, in this case Nerezidenti (non-residents) (Figure 23). Figure 23 - Navigation This opens the page for entering non-resident as in the Figure 24.

19 Figure 24 – Entry and overview of entered non-residents There are two separate sections on this page: o Unos podataka (data entry) – for entering data on non-residents. After filling in all necessary data, click on the button Unesi podatke (Enter data), after which, if the entry was correct, the data will be shown in the section Pregled podataka (Data overview). If data were not correctly entered, the user gets information on error, after which correction data may be re-entered. o Pregled podataka – this gives the tabular overview of data already entered by the user. An example is given in Figure 25. Figure 25 – Tabular overview of entered data

• If you want to delete specific row in the table, click on the button and the row will be deleted.

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• If you want to delete any of data in the specific row in the table, click on the button , after which data will be shown in the data entry section, as in figure

Figure 26 – Data change

• Click on Potvrdi izmjene (Confirm change) to apply changes (if validation of entered data was successful) and present data in the Pregled podataka section.
• If you do not want to change data, click on the button Odustani (Cancel). After completing data on non-residents, go to next data entry page: Stanje ulaganja (investment balance). This page, as well as the previous one, has two separate sections (Figure 27): o Unos podataka (Data entry)

21 Figure 27 – Balance of equity investments of non-residents Text and numerical fields are completed as described above. New transaction is entered by clicking on button, after which the following form for transaction entry opens (Figure 28). Figure 28 – Entering a transaction When all required fields are filled in, click OK, the data on entered transaction (if all data are correct) will be shown in the table of transactions (Figure 29)

22 Figure 29 – Overview of entered transactions All other transactions related to the selected non-resident are entered in the same manner. If you made error while entering a transaction, click on button to delete it, after which it can be re-entered (clicking on button ). After filling-in all necessary data, click on the button Unesi podatke, after which, if the entry was correct, the data will be shown in the Pregled podataka section. If the data were not entered correctly, the user will get the information on error. o Pregled podataka – gives the tabular overview of data already entered by the user. See the example on Figure 30. Figure 30 – Overview of entered data (1)

• If you want to delete specific row in the table, click on the button and the row will be deleted.
• If you want to change any of data in the specific row in the table, click on the button, after which data will be shown in the data entry section.
• If you want to see additional data, Click on the button, after which the data for the selected row in the table will be shown – Figure 31.
• To view data on specific transactions, click on the button , after which the data will be shown in the section for data entry.

23 Figure 31 – Overview of entered data (2) After completing data on balance of equity investments, go to the next data entry page: Dividende (dividends). The page Dividende is completed following the same principle for the previous two pages, so this page will not be specifically explained. After filling in data on dividends, go to the next data entry page: NAPOMENA (NOTE) On this page, the user enters the note (maximum number of characters is 1000) After entering note, go to next page: Pregled i potpis – Figure 32

24 Figure 32 – Overview and signing the report

• The page will show the data used by the User.
• The page contains multiple sections, and each of sections may be collapsed/expanded clicking on the appropriate button next to the section title ( or )
• The user has to check whether it filled in all the data correctly. If the data were filled in correctly, the user chooses the certificate (from the drop-down list) for signing the report, and then click on the button Potpiši (Sign). If the report was entered and signed successfully, the user gets confirmation as one shown in Figure 33. Only reports signed in such manner shall be considered submitted and will be processed by the CBCG. Figure 33 – Confirmation that the report was successfully submitted
• If the user made mistake while entering any of data, it is necessary to return to the corresponding page to make changes, after which it will sign the report again.
• If the error occurs during validation of entered data, user will get information after which it will be returned to the front page to correct incorrectly entered data, and to sign and

25 submit the report after making corrections. 7. Moji zahtjevi (My requests) Selecting the option Moji zahtjevi opens the page as in Figure 34, which contains basic data on all so far recorded requests. Figure 34 – Overview of submitted requests for entry of non-resident The CBCG keeps a register of non-residents. If a new resident appears that does not exist in the records, it is necessary to fill-in request for entering new non-resident. After receiving the request, the CBCG will update the register and send mail notification to the applicant. After that, you can continue entering the appropriate forms for the non-resident. The overview on page 34 enables overview of all sent requests and their status. Status OBRAĐEN (PROCESSED) means that your request was processed. Pretraga/unos nerezidenata (Search/Entry of non-resident) enables searching for all non￾residents as well as sending the appropriate request for entering new non-resident. Click on this button opens page as shown in Figure 35.

26 Figure 35 – Search of all non-residents Search criteria are entered into empty fields above each column. Click on ENTER to obtain search results as shown in Figure 36. In this case, the search criteria were the name of the non-resident contains ‘hi’ and that the country contains ‘slo’. Figure 36 – Entry of criteria for searching non-residents If the non-resident does not exist in the CBCG records, create request for entering new non￾resident by clicking on the button Zahtjev za unos novog nerezidenta (Request for entering new non-resident) (Figure 37).

27 Figure 37 – Request for entering new non-resident Figure 37 shows the form for entering new non-resident. It is necessary to enter: o Naziv rezidenta (Name of the non-resident) o Fizičko lice (Natural person) – check if it is a natural person o Sjedište nerezidenta (Headquarters of non-resident) o Zemlja nerezidenta (Country of non-resident) – select from list of values o Vrsta subjekta (Type of entity) – select from list of values o Djelatnost (Activity) – select from list of values o Zemlja matične kompanije (Country of parent company) – select from list of values o Napomena (NOTE) – optional field After entering all necessary data, by clicking on OK the user gets information that it created request for entering new non-resident, which may be viewed in the table Overview of user requests. 8. Privileges for submitting forms In the case of change in legal person i.e. the bookkeeping agency that submits data on its behalf, the resident has to inform the CBCG (i.e. the IT Department) on the form enclosed to this User Guide. Acting upon the receipt of this report, in addition to assigning relevant privileges for the legal person reported in the form, the CBCG IT Department will revoke privileges to all persons who provided data on behalf of the legal person referred to in Annex 2.

28 PART II TECHNICAL INSTRUCTION FOR COMPLETING FORMS GU-1, GU-2, DI-1, DI-2, KZ-1, KO-1, TK-1, TK-2 and RN-1

29 USER GUIDE FOR FILLING IN THE FORM GU-1 - REPORT ON NON-RESIDENTS’ CONSTRUCTION SERVICES IN THE COUNTRY Only residents which have concluded contracts with non-residents on the performance of construction (investment) works complete this form! Basic information Reporting period The form is completed on a quarterly basis. Choose the period for which the form is completed Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY (quarter and year). Information on resident ID Number - enter the eight-digit integer to identify the resident and press “enter”. When the identification number is entered, the system auto-completes other information on the resident

30 from the Central Registry of Business Entities (name, office address, municipality, status, activity, and date of founding). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Type of entity - designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered. Type of investment – Not obligatory field Responsible person – Write the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and the preparation of financial statements. Information on non-resident

31 Name of Non-resident - Clicking on the magnifying glass opens a new window from which you can select non-resident offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non￾residents”. If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident (see User's manual “My Requests”). Type of foreign investment - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A, B, C, FA or FB Code A – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code B – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are those where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the branch has 10% or higher share in parent company, then it is a mutual investment. Code C – used in companies that don’t have a share in capital and are not interconnected. Codes FA and FB are assigned to specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if foreign investor (non-resident) does not own equity shares or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is non-resident. Code FB – is assigned if foreign investor (non-resident) does not own equity portion or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is resident. Share in capital (in %) – is the share in the capital of a resident which a non-resident has at the end of the reporting period. The sum of non-residents may not have more than 100% of share in capital. This field is connected logically with the “type of foreign investment”. When all fields for a non-resident are filled in, click on the field “Unesi podatke (Enter data)”. Data for the given non-resident will be presented in the section “Pregled podataka”. After that, you may enter data for other non-residents, and so on.

32 CONTRACTS Import of construction services Name of non-resident – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the information on construction services. Choose a contract from the list – this field contains the list of contracts entered over the previous periods and by choosing one of these contracts links the data referring to individual contracts. Country where works are performed – From the Codebooks of countries choose a country where woks are performed. Value after the last change of contract - annex and final value of the contract (in EUR) – enter the amount (value in euros at the average exchange rate as at the last day of the reporting period). Contract concluded on – enter the date when the contract was concluded in the following format: dd￾mm-yyyy. Each contract should be filled separately. Deadline for the contract execution – fill in the date envisaged for the execution of contract in the following format: dd-mm-yyyy. Is the contract on the execution of works concluded for a period of one year? Choose the appropriate option: Yes or No

33 Does the non-resident perform works through its part established in Montenegro? Choose the appropriate option: Yes or No Balance at the beginning of the reporting period – shows the status of an unrealized contract at the beginning of the reporting period. If the contract is concluded in mid-2018 and the form is completed for the first quarter of 2019, this box will show the difference between the value after the last change of the contract and the value of the contract performed until the beginning of the period to which the report refers to (total performed in previous periods). This field will always be automatically updated based on the data entered and the data cannot be changed (formula). Total expenses for the period - shows the amount of all expenses that are entered for the period for which the form is filled in. This box does not include the value of the performed contract during the reporting period - (formula). Advances from investment works 1 – enter the amount of the advance on the basis of the execution of investment works at the end of the period. Total executed during the previous periods – enter the total amount of funds realized in previous periods. Items Note: Items and other expenses are entered by clicking on the small pencil next to the item number for which the value should be entered by months.

1 Advance - part of the amount paid in advance for the contracted, but still not completed work (goods ordered but not yet delivered or services contracted but not yet performed). It is necessary to present the cumulative advance amount for the reporting period.

34 Value of the contract performed during the reporting period – enter the value of performed contract for the quarter to which that report refers to, by months. Material purchased in the country for the purpose of execution of works - enter the value of purchased material in Montenegro by non-residents for performing works in the country. Material purchased abroad for the purpose of execution of works - enter the value of purchased material abroad for performing works in the country. Equipment purchased in the country for the purpose of execution of works - enter the value of purchased equipment in Montenegro by non-residents for performing works in the country. Equipment purchased abroad for the purpose of execution of works - enter the value of purchased equipment abroad for performing works in the country. Construction equipment received from the parent company - enter the value of construction equipment for performing works in the country. Expenses Other expenses of the contractor - non-resident related to the execution of works in Montenegro - enter the value of other expenses of non-resident contractor related to the performing of works in the country. When all fields for a non-resident are filled in, click on the field “Unesi podatke (Enter data)”. Data for the given non-resident will be presented in the table below. After that, you may enter data for other non-residents, and so on. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” and enter necessary changes. NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

35 USER GUIDE FOR FILLING IN THE FORM GU-2 - REPORT ON RESIDENTS’ CONSTRUCTION SERVICES ABROAD Only residents which have concluded contracts with non-residents on the performance of construction (investment) works abroad complete this form! Basic information Reporting period The form is completed on a quarterly basis. Choose the period for which the form is completed Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY (quarter and year). Information on resident ID Number - enter the eight-digit integer to identify the resident and press “enter”. When the identification number is entered, the system auto-completes other information on the resident

36 from the Central Registry of Business Entities (name, office address, municipality, status, activity, and date of founding). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Type of entity - designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered. Type of investment – Not obligatory field Responsible person – Write the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and the preparation of financial statements. Information on non-resident

37 Name of Non-resident - Clicking on the magnifying glass opens a new window from which you can select non-resident offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non￾residents”. If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident (see User's manual “My Requests”). Type of foreign investment - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A, B, C, FA or FB Code A – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code B – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are those where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the branch has 10% or higher share in parent company, then it is a mutual investment. Code C – used in companies that don’t have a share in capital and are not interconnected. Codes FA and FB are assigned to specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if foreign investor (non-resident) does not own equity shares or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is non-resident. Code FB – is assigned if foreign investor (non-resident) does not own equity portion or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is resident. Share in capital (in %) – is the share in the capital of a resident which a non-resident has at the end of the reporting period. The sum of non-residents may not have more than 100% of share in capital. This field is connected logically with the “type of foreign investment”. When all fields for a non-resident are filled in, click on the field “Unesi podatke (Enter data)”. Data for the given non-resident will be presented in the section “Pregled podataka”. After that, you may enter data for other non-residents, and so on.

38 CONTRACTS Import of construction services Name of non-resident – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the information on construction services. Choose a contract from the list – this field contains the list of contracts entered over the previous periods and by choosing one of these contracts links the data referring to individual contracts. Country where works are performed – From the Codebooks of countries choose a country where woks are performed. Value after the last change of contract - annex and final value of the contract (in EUR) – enter the amount (value in euros at the average exchange rate as at the last day of the reporting period). Contract concluded on – enter the date when the contract was concluded in the following format: dd￾mm-yyyy. Each contract should be filled separately. Deadline for the contract execution – fill in the date envisaged for the execution of contract in the following format: dd-mm-yyyy. Is the contract on the execution of works concluded for a period of one year? Choose the appropriate option: Yes or No

39 Does the non-resident perform works through its part established in Montenegro? Choose the appropriate option: Yes or No Balance at the beginning of the reporting period – shows the status of an unrealized contract at the beginning of the reporting period. If the contract is concluded in mid-2018 and the form is completed for the first quarter of 2019, this box will show the difference between the value after the last change of the contract and the value of the contract performed until the beginning of the period to which the report refers to (total performed in previous periods). This field will always be automatically updated based on the data entered and the data cannot be changed (formula). Total expenses for the period - shows the amount of all expenses that are entered for the period for which the form is filled in. This box does not include the value of the performed contract during the reporting period - (formula). Advances from investment works 2 – enter the amount of the advance on the basis of the execution of investment works at the end of the period. Total executed during the previous periods – enter the total amount of funds realized in previous periods. Items Note: Items and other expenses are entered by clicking on the small pencil next to the item number for which the value should be entered by months. Value of the contract performed during the reporting period for the month – enter the value of performed contract for the month to which that report refers to, by months.

2 Advance - part of the amount paid in advance for the contracted, but still not completed work (goods ordered but not yet delivered or services contracted but not yet performed). It is necessary to present the cumulative advance amount for the reporting period.

40 Calculated wages and salaries for employed residents - enter the value of calculated wages and salaries to employed residents. Enter the value of net wages and salaries for the reporting month. Calculated wages and salaries for employed non-residents - enter the value of calculated wages and salaries to employed non-residents. Enter the value of net wages and salaries for the reporting period by months. Material purchased in the country for the execution of works - enter the value of purchased material in Montenegro by non-residents for performing works in the country. Material purchased abroad for the purpose of execution of works - enter the value of purchased material abroad for performing works abroad. Equipment purchased in the country for the execution of works - enter the value of purchased equipment in Montenegro by non-residents for performing works in the country. Equipment purchased abroad for the execution of works - enter the value of purchased equipment by residents for performing works abroad. Calculated tax abroad - enter the total value of all calculated taxes abroad. Expenses Miscellaneous services – computer, financial, telecommunication, other services – enter the value of resident contractor’s other expenses related to performing works abroad (computer, financial, telecommunication and other services). Lease of business premises – total value of invoiced expenses for the lease of business premises. Lease of equipment – total value of invoiced expenses for the lease of equipmnet. Other expenses of the contractor - -resident related to the execution of works abroad - enter the value of other expenses of resident contractor related to the performing of works abroad. When all fields for a non-resident are filled in, click on the field “Unesi podatke (Enter data)”. Data for the given non-resident will be presented in the table below. After that, you may enter data for other non-residents, and so on. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” and enter necessary changes. NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature

41 On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

42 USER GUIDE FOR FILLING IN THE FORM DI-1 - REPORT ON NON-RESIDENTS’ DIRECT INVESTMENTS IN THE COUNTRY Only residents in which non-resident (foreign investor) holds at least 10 percent of shares/equity complete this form! Explanation of the foreign investment type According to international standards, resident reports on direct investments of foreign investor (non￾resident) that holds at least 10% of the capital/equity in the resident in Montenegro. Foreign direct investments also include investments by horizontally related companies, and the so-called “reverse investments”. Horizontal related companies (Fellow enterprises) - This specific form of direct equity investments includes investments where the company into which it is invested directly and the company that invest in Montenegro (non-resident) belong to the same group of companies, i.e. which are directly or indirectly managed by a single natural or legal person (parent company). Thus, horizontal affiliated companies (“sister companies”) have the same non-resident ultimate controlling parent – (UCP), but they are not under mutual control and do not influence each other. In foreign direct investments, equity capital is divided according to the type of relationship between the entities and the investment direction. Consequently, three types of direct investment may be distinguished: (a) investments of direct investors in the company into which is invested directly - This category includes investment flows (and balance) from direct investors according to companies in which it invests directly (regardless of whether they are directly or indirectly controlled or influenced); (b) “reverse investments” or investment of subsidiary into the parent company - This category includes investment flows (and balance) from the company that is directly invested (subsidiary) to the direct investor (parent company). These include investments of “daughter” company into “parent” company, but only when the daughter company holds less than 10% of the capital and has no voting right in the parent company; (c) investments between sister companies or fellow enterprises - This category includes investment flows (and balance) between companies which are not under mutual control and do not affect each other, but they are under the control or influence of the same foreign direct investor. These companies also have no share in each other, or have less than 10%.

43 Basic information Reporting period Select the period (quarter or year) for which the form is completed from the drop-down list. Choose Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY if the form is completed for quarter. If data are filled in on an annual basis, select the appropriate year from the drop-down list (YYYY). Information on resident ID Number - enter the eight-digit integer to identify the resident and hit “enter”. When the identification number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name, office address, municipality, status, activity, and date of founding). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Type of entity - designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered.

44 Type of investment means an investment classified according to the enclosed “Codebook of the Types of Investments”. This is a mandatory field in order to differentiate “greenfield” and “brownfield” investments. By clicking on the magnifying glass from the drop-down list, choose one of offered options:

1. Establishment of a new company (greenfield investment) - Only residents established during this period may choose this option.
2. Taking over a part of the equity of other domestic or foreign legal or natural persons (brownfield investment) - Only residents with a change in ownership structure or other changes in capital structure (revaluation of reserves, increase in retained profit/loss, etc.) may choose this option.
3. Taking over a part of the equity in the privatization process
4. The establishment of a foreign company subsidiary Responsible person – Write the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements. Information on non-resident

45 Name of Non-resident - Clicking on the magnifying glass opens a new window from which you can select foreign investor (non-resident) offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non-residents”. When you select the non-resident, other fields will auto-complete from the CBCG database (non-resident’s headquarters, non-resident’s country, type of entity, the activity of the non-resident, and the country of parent company). Filling in of fields Type of foreign investment and Share in capital is mandatory. If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident (see User's manual “My Requests”). Type of foreign investment - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code B – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are those where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the branch has 10% or higher share in parent company, then it is a mutual investment. Code C – not filled-in. Codes FA and FB are assigned to specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if foreign investor (non-resident) does not own equity shares or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is non-resident. Code FB – is assigned if foreign investor (non-resident) does not own equity portion or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is resident.

Share in capital (in %) – is the share in the capital of a resident which a non-resident has at the end of the reporting period. The sum of non-residents may not have more than 100% of share in capital. This field is connected logically with the “type of foreign investment”.

46 When all fields for a non-resident are filled in, click on the field “Unesi podatke (Enter data)”. Data for given non-resident will be presented in the section “Pregled podataka”. After that, you may enter data for other non-residents, and so on. Information on balance of non-resident’s equity investments NOTE: For each non-resident, separately fill in balance of equity investments. When data for a non￾resident are entered correctly in the appropriate fields, click on "Unesi podatke", and then start filling￾in data for other non-resident. An overview of entered data is placed in the table below the data entry space. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” and enter necessary changes. Name of non-resident – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the investments balance. Opening balance means balance of investments of non-resident/resident at the beginning of the reporting period. Opening balance in the reporting period for which data are entered is the same as the “new balance” at the end of the previous reporting period. This field will always be automatically updated on the basis of the data entered in the previous period, and these data cannot be changed. New balance means balance of investments of non-resident at the end of the reporting period. This field is not available for data entry and represents the sum of positions. After filling in all data, check if the new balance corresponds to the balance sheet.

47 Data on capital NOTE: These positions have to be filled in from the balance sheet in accordance with the share in capital of a given non-resident. All positions are entered in euros. You cannot leave an empty box, but if there is no data for given positions, enter zero. Moreover, it is necessary to use English keyboard settings in completing the forms. Initial capital – refers to the part of the initial capital from the balance sheet that belongs to a non-resident based on the ownership share (initial capital from balance sheet * share in capital of the given non-resident). Retained subscribed capital – means reserved capital from the balance sheet that belongs to a non-resident based on the ownership share (retained capital from balance sheet * share in capital of the given non-resident). Issue premium – means the issue premium balance sheet belonging to a non-resident based on the ownership share. (Issue premium from balance sheet * share in capital of the given non￾resident). Only companies quoted on stock exchange may have this data. Legal reserves – means the legal reserves based on the ownership share of non-resident (legal reserves * share in capital of the given non-resident). Statutory and other reserves – mean the statutory and other reserves based on the ownership share of non-resident (statutory and other reserves * share in capital of the given non-resident). Positive revaluation reserves – mean positive revaluation reserves based on the ownership share of non-resident (positive revaluation reserves * share in capital of the given non-resident). Negative revaluation reserves – means negative revaluation reserves based on the ownership share of non-resident (negative revaluation reserves * share in capital of the given non￾resident). This field must have a minus sub-sign. Retained earnings from the current period (341) – means retained earnings from the current reporting period on all grounds that, based on the share in capital, belong to a non-resident, except for the increase resulting from the correction of significant material errors and changes in accounting policies performed in the previous reporting period, if any. Loss from the previous period (350) – means the loss which, based on the share in capital, belongs to a non-resident from earlier periods, if any.

48 Loss in the current period (351) – means the loss, which based on the share in capital belongs to a non-resident in the period to which the report relates, if any. Data on transactions and other changes NOTE: Transactions mean the difference between initial capital from the previous and the current period. The initial capital which belongs to the investor on the basis of the share may be increased or decreased due to the purchase or sale of shares (cash transactions) or on the basis of non-cash transactions (for example: assets, rights, licensing, real estates, and the like). If there is an increase or reduction of capital due to the conversion of debt into equity or foreign exchange, then this has to be shown only through other changes, and not as transactions. To add new transaction, click on the plus (+) sign and then enter the information on the transaction (type of change, month of transaction, manner of payment, and amount). If the transaction led to the reduction of initial capital, it must have a minus (- ) sign. Also, if the change in the initial capital was the result of more transactions, each transaction should be recorded separately. At the end, the field “total transactions” shows the total value of all transactions entered. Other changes mean the increase or decrease in initial capital due to the conversion of debt into capital or Currency differentials. As with transactions, other changes also explain increase or reduction in primary capital belonging to non-resident based on share in capital. Currency differentials – indicate positive/negative currency differentials that affect the change in investment balance. Enter minus (-) sign in negative currency differentials. For positive currency differentials on translation of cash shows, enter the amount of realized foreign exchange gains as at the balance sheet date. For negative currency differentials on translation of cash show the amount of realized foreign exchange losses as at the balance sheet date. Debt-for-equity swop – enter the value of debt converted into primary capital in the case of replacing debtor relation with ownership. Amount of other changes – enter the amount of other changes affecting the balance of non￾resident’s investment (write minus if necessary). State changes – explain to what the amount of other changes refers. Total amount of other changes –represent the sum of all other changes. Data on dividends

49 Name of non-resident – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the paid dividend data. Month and year of passing a decision on dividend payment – Click on arrow from the drop-down list to select the month and year of passing a decision on dividend payment in the mm-yyyy format. Month and year of dividend payment –Click on arrow from the drop-down list to select the month and year of dividend pay-out in the mm-yyyy format. The year of dividend payout always corresponds to the year for which the form is completed. Paid dividend from the current period – enter the total amount of dividends paid from the reporting period, out of profits realized in the current period, which belong to a non-resident on the basis of share in capital. Paid retained profit from the previous periods – enter the total amount of dividends paid in the reporting period, from profits realized in previous periods (accumulated profit), which belongs to a non￾resident on the basis of share in capital. Total – This is the sum of paid-out dividends belonging to the selected non-resident for the share in capital (from current and previous period). NOTE: When data for selected non-resident are entered, click on the field “Unesi podatke” and enter data for the next non-resident. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka”. NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field.

50 Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

51 USER GUIDE FOR FILLING IN THE FORM DI-2 - REPORT ON RESIDENTS’ DIRECT INVESTMENTS ABROAD Only residents holding at least 10 % of shares/equity in a non-resident (foreign investor) complete this form! Explanation of basing terminology According to international standards, a resident reports on direct investments abroad in which it acquired at least 10% of the capital/equity of the non-resident. Foreign direct investments also include investments by fellow companies, and by so-called “reverse investments”. Horizontal related companies (Fellow enterprises) - This specific form of direct equity investments includes investments where companies into which it is invested directly and the company that invest in Montenegro (non-resident) belong to the same group of companies i.e. which are directly or indirectly managed by a single natural or legal person (parent company). Thus, horizontal affiliated companies (“sister companies”) have the same non-resident ultimate controlling parent – (UCP), but they are not under mutual control and do not influence each other. In foreign direct investments, equity capital is divided according to the type of relationship between the entities and the investment direction. Consequently, three types of direct investment may be distinguished: (a) investments of direct investors in the company into which is invested directly - This category includes investment flows (and balance) from direct investors according to companies in which it invests directly (regardless of whether they are directly or indirectly controlled or influenced); (b) “reverse investments” or investment of subsidiary into the parent company - This category includes investment flows (and balance) from the company that is directly invested (subsidiary) to the direct investor (parent company). These include investments of “daughter” company to “parent” company, but only when the daughter company holds less than 10% of the capital and is not eligible to vote in the parent company; (c) investments between sister companies or fellow enterprises - This category includes investment flows (and balance) between companies which are not under mutual control and do not affect each other, but they are under the control or influence of the same foreign direct investor. Also, these companies have no share in each other, or have less than 10%.

52 Basic data Reporting period Select the period (quarter or year) for which the form is completed from the drop-down list. Choose Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY if the form is completed for quarter. If data are filled in on an annual basis, select the appropriate year from the drop-down list (YYYY). Data on resident Identification Number - enter the eight-digit integer to identify the resident and hit “enter”. When the identification number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name, address, municipality, status, activity, and date of establishment). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Type of entity - designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered.

53 Type of investment means an investment classified according to the enclosed “Codebook of the Types of Investments”. This is a mandatory field in order to differentiate “greenfield” and “brownfield” investments. Click on the magnifying glass from the drop-down list to choose one of offered options:

1. Establishing new enterprise (greenfield investment) - Only residents established during this period may choose this option.
2. Assuming shares in capital of other domestic or foreign legal or natural persons (brownfield investment) - Only residents with a change in ownership structure or other changes in capital structure (revaluation of reserves, increase in retained profit/loss, etc.) may choose this option.
3. Assuming share in capital during the privatization process
4. Establishing a subsidiary Responsible person – Enter the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail address. Data on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements. Data on non-resident

54 Non-resident’s name - Clicking on the magnifying glass opens a new window from which you can select foreign investor (non-resident) offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non-residents”. When you select the non-resident, other fields will auto-complete from the CBCG database (non-resident’s headquarters, non-resident’s country, type of entity, the activity of the non-resident, and the country of parent company). Filling in of fields Type of foreign investment and Share in equity is mandatory. If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident (see User's manual “My Requests”). Type of foreign investment - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code B – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are investments where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the branch has 10% or higher share in parent company, then it is a mutual investment. Code C – not filled-in. Codes FA and FB are assigned for the specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if foreign investor (non-resident) does not own equity shares or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is non-resident. Code FB – is assigned if foreign investor (non-resident) does not own equity portion or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent that is resident.

Share in capital (in %) – is the share in the capital of a resident which a non-resident has at the end of the reporting period. This field is connected logically with the “type of foreign investment”. When all fields for a non-resident are filled in, click on the field “Enter data”. Data for given non￾resident will be presented in the section “Pregled podataka”(Data overview). After that, you may enter data for other non-residents, and so on.

55 Data on balance of non-residents’ equity investments NOTE: For each non-resident, separately fill in equity investments balance. When correct data for a non-resident are entered correctly in the appropriate fields, click on "Enter data", and then start filling-in data for next non-resident. An overview of entered data is places in the table below the data entry space. If you want to change already entered data, click on the small pencil next to the non￾resident in the table “Pregled podataka” (Data overview) and enter necessary changes. Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the investments balance.

56 Initial balance means a state of investments of non-resident/resident at the beginning of the reporting period. Initial balance in the reporting period for which data are entered is the same as the “new balance” at the end of the previous reporting period. This field will always be automatically updated on the basis of the data entered in the previous period, and these data cannot be changed. New balance means balance of investments of non-resident at the end of the reporting period. This field is not available for data entry and represents the sum of positions. After filling in all data, check if the new balance corresponds to the balance sheet. Data on capital of residents NOTE: These positions have to be filled in from the balance sheet in accordance with the share in capital of a given non-resident. All positions are entered in euros. You cannot leave an empty box, but if there is no data for given positions, enter zero. Moreover, it is necessary to use English keyboard settings in completing the forms. Initial capital – refers to the part of the initial capital from the balance sheet that belongs to a non-resident based on the ownership share (initial capital from non-resident’s balance sheet * share in capital of the given resident). Retained subscribed capital – means reserved capital from the balance sheet that belongs to a non-resident based on the ownership share (retained capital from non-resident’s balance sheet

• share in capital of the given resident). Issue premium – means the issue premium balance sheet of npn-resident belonging to a resident based on the ownership share. (Issue premium from non-resident’s balance sheet * share in capital of the given resident). Only companies quoted on stock exchange may have this data. Legal reserves – means the legal reserves based on the ownership share of resident (legal reserves from non-resident’s balance sheet * share in capital of the given resident). Statutory and other reserves – mean the statutory and other reserves based on the ownership share of resident (statutory and other reserves from non-resident’s balance sheet * share in capital of the given resident). Positive revaluation reserves – mean positive revaluation reserves based on the ownership share of resident (positive revaluation reserves from non-resident’s balance sheet * share in capital of the given resident). Negative revaluation reserves means negative revaluation reserves based on the ownership share of resident (negative revaluation reserves from non-resident’s balance sheet * share in capital of the given resident). This field must have a minus sub-sign.

57 Retained profit from the previous period means retained profit in the previous reporting period on all grounds that on the basis of the share in capital belongs to a resident, except for the increase resulting from the correction of material errors and the effects of changes in accounting policies made in the previous reporting period, if any. Retained profit for the current period (341) means retained profit in the current reporting period on all grounds which, based on the share in capital, belongs to a resident, except for the increase resulting from the correction of significant material errors and changes in accounting policies, if any. Loss from the previous period (350) means the loss which, based on the share in capital, belongs to a resident from earlier periods, if any. Loss in the current period (351) means the loss, which based on the share in capital, belongs to a resident in the period to which the report relates, if any. Data on transactions and other changes NOTE: Transactions mean the difference between initial capital from the previous and the current period. The initial capital which belongs to the investor on the basis of the share may be increased or decreased due to the purchase or sale of shares (cash transactions) or on the basis of non-cash transactions (for example: assets, rights, licensing, real estates, and the like). If there is an increase or reduction of capital due to the conversion of debt into equity or foreign exchange, then this has to be shown only through other changes, and not as transactions. To add new transaction, click on the plus sign (+) and then enter the information on the transaction (type of change, the month of the transaction, payment method and amount). If the transaction led to the reduction of initial capital, it must have a minus sign. Also, if the change in the initial capital was the result of more transactions, each transaction should be recorded separately. At the end, the field “total transactions” shows the total value of all transactions entered. Other changes mean the increase or decrease in initial capital due to the conversion of debt into capital or exchange rate differences. As with transactions, other changes also explain increase or reduction in primary capital belonging to resident based on share in capital. Exchange rate differences – indicate positive/negative exchange rate differences that affect the change in investment balance. Enter minus sign in negative foreign exchange. For positive foreign exchange differences on translation of cash shows, enter the amount of realized foreign exchange gains as at the balance sheet date. For negative exchange losses on translation of cash show the amount of realized foreign exchange losses as at the balance sheet date. Conversion of debt into capital – enter the value of debt converted into primary capital in the case of replacing debtor relation with ownership.

58 Amount of other changes– enter the amount of other changes affecting the balance of non￾resident’s investment (write minus if necessary). Describe changes – explain to what the amount of other changes refers. Total other changes – they represent the sum of all other changes. Data on dividends Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the paid dividend data. Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the paid dividend data.

59 Month and year of dividend pay-out –Click on arrow from the drop-down list to select the month and year of dividend pay-out in the mm-yyyy format. The year of dividend pay-out always corresponds to the year for which the form is completed. Dividends paid in the current period – enter the total amount of dividends paid in the reporting period, out of profits realized in the current period, which belong to a resident on the basis of share in capital. Paid retained profit from previous periods – enter the total amount of dividends paid in the reporting period, from profits realized in previous periods (accumulated profit), which belongs to a resident on the basis of share in capital. Total – This is the sum of totally paid-out dividends belonging to the selected non-resident for the share in capital (from current and previous period). NOTE: When data for selected non-resident are entered, click on the field “enter data” and enter data for the next non-resident. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” (Data overview). NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes. Explanation of the selection of type of investment by non-resident in DI-1 and DI-2 forms

60 In this example, Company A is located on top of the pyramid and represents the Ultimate Controlling Parent (UCP) to all other companies. The UCP refers to the legal or natural person that controls management of the group to which resident belongs. Companies B and C are in direct ownership relationship with company A and represent its subsidiaries (daughter companies). Company B is direct investor in companies D and E, while the company C is direct investor in F and G. Companies E, F, G and I are horizontally related companies. Horizontally related companies are companies controlled by or affected by the same direct or indirect foreign investor, whereby no horizontal affiliated companies do not control or has no impact on other horizontal combined company, but they have common UCP. If horizontal affiliated companies are in different economies, i.e. one company is resident and the other non-resident, it is considered that there is a of direct investment relationship which as such has to be monitored in foreign direct investment and balance of payments statistics.

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When compiling Report on non-residents’ direct investments in the country (Form DI-1) and the Report on borrowing operations abroad (KZ-1), the codes are assigned as follows:  Code A in the form DI-1 is assigned to parent company (non-resident), which invests in resident (subsidiary) and in which it holds more than 10% of share in capital. Also, in form KZ-1, Code A is assigned to non-resident who lends to the resident in which it holds more than 10% of equity. Economy IV Economy III Economy II - Montenegro Economy I Company A Company B Company D Company H Company I Company E Company C Company F Company G 60% 30% 30% 60% 70% 60% 60% 70%

61 Code B in the form DI-1 is assigned to subsidiary (non-resident), which invests in resident-parent company (reverse investment) and does not hold more than 10% of share in resident’s capital. Code B in KZ-1 form is assigned to subsidiary (non-resident) who lends to the resident-parent company, and does not hold more than 10% of equity. Code FA is assigned if non-resident does not hold equity share, or holds less than 10% of joint share in resident, and is a part of the same group in which resident belongs, i.e. both legal persons have the joint ultimate controlling person who is a non-resident. Code FB is assigned if non-resident does not own equity share, or holds less than 10% of ownership in resident, and is a part of the same group in which resident belongs, i.e. both legal persons have the joint ultimate controlling person who is a resident.

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When compiling Report on residents’ direct investments abroad (Form DI-2) and the Report on borrowing operations abroad (KO-1), the codes are assigned as follows: Code B in the form DI-2 is assigned to subsidiary (non-resident), into which resident - parent company (reverse investment) which holds 10% or more of share in non-resident (subsidiary) invests. Code B in the form KO-1 is assigned to subsidiary (non-resident) whom parent company (resident) lends, and which holds 10% or more of equity in this non-resident. Parent company (non-resident) Subsidiary (resident￾reporting entity) Subsidiary (non-resident) Parent company (resident- reporting entity) ≥10% <10%

62 Code A in the form DI-2 is assigned to parent company (non-resident), in which invests resident (reverse investment) that has less than 10% of share in capital of non-resident (parent company)., Code A in the form KO-1 is also assigned to parent company (non-resident) to which resident lends. Code FA is assigned if non-resident does not hold equity share, or holds less than 10% of ownership in resident, and is a part of the same group in which resident belongs, i.e. both legal persons have the joint ultimate controlling person who is a resident. Code FB is assigned if non-resident does not hold equity share, or holds less than 10% of ownership in resident, and is a part of the same group in which resident belongs or they have the joint ultimate controlling person who is a resident. Codebook of activities Codebook of activities can be found at the website of MONSTAT, under the title “Klasifikacija djelatnosti“ (Classification of activities) (http://monstat.org/cg/page.php?id=107&pageid=107). Activity is completed in accordance with the NACE Rev. 2 classification. Subsidiary (non￾resident) Parent company (resident - reporting entity) Parent company (non-resident) Subsidiary (resident￾reporting entity) ≥10% <10%

63 USER GUIDE FOR FILLING IN THE FORM KZ–1 - REPORT ON BORROWING OPERATIONS ABROAD Only residents having borrowing operations abroad complete this form! Basic information Reporting period Select the period (quarter or year) for which the form is completed from the drop-down list. Choose Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY if the form is completed for quarter. If data are filled in on an annual basis, select the appropriate year from the drop-down list (YYYY). Information on resident ID number - enter the eight-digit integer to identify the resident and hit “enter”. When the ID number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name, office address, municipality, status, activity, and date of founding).

64 Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Type of entity – designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered. Type of investment means an investment classified according to the enclosed “Codebook of the Types of Investments”. This is a mandatory field in order to differentiate “greenfield” and “brownfield” investments. Click on the magnifying glass from the drop-down list to choose one of offered options:

1. Establishing new enterprise (greenfield investment) - Only residents established during this period may choose this option.
2. Assuming shares in capital of other domestic or foreign legal or natural persons (brownfield investment) - Only residents with a change in ownership structure or other changes in capital structure (revaluation of reserves, increase in retained profit/loss, etc.) may choose this option.
3. Assuming share in capital during the privatization process
4. Establishing a subsidiary Only companies owned by non-resident complete this field. Responsible person – Enter the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail address. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements.

65 Information on non-resident Non-resident’s name - Clicking on the magnifying glass opens a new window from which you can select foreign investor (non-resident) offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non-residents”. When you select the non-resident, other fields will auto-complete from the CBCG database (non-resident’s headquarters, non-resident’s country, type of entity, the activity of the non-resident, and the country of parent company). Filling in of fields Type of foreign investment and Share in capital is mandatory. If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident. Type of foreign investment - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code B – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are investments where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the subsidiary has 10% or higher share in parent company, then it is a mutual investment. Code C – is used for companies that do not have share in capital and are not sister companies.

66 Codes FA and FB are assigned to the specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if foreign investor (non-resident) does not own equity shares or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent (non￾resident). Code FB – is assigned if foreign investor (non-resident) does not own equity shares or holds less than 10% of equity share in the reporting entity (resident) and is a part of the same group to which the reporting entity belongs, and which have the same ultimate controlling parent (resident). Share in capital (in %) – is the share in the resident’s capital which a non-resident holds at the end of the reporting period. The sum of non-residents may not have more than 100% of share in capital. This field is connected logically with the “type of foreign investment”. If this is borrowing only, i.e., the Code C – the share cannot be higher than 0! When all fields for a non-resident are filled in, click on the field “Unesi podatke”. Data for given non￾resident will be presented in the section “Pregled podataka”. After that, you may enter data for other non-residents, and so on. Data on loans

67 NOTE: For each non-resident creditor, separately fill in borrowing. When data for a non-resident are entered correctly in the appropriate fields, click on "Unesi podatke", and then start filling-in data for next non-resident. An overview of entered data is placed in the table below the data entry space. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” and enter necessary changes. Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the borrowing. Loan After the initial (first) entry, the field “Izaberi kredit iz liste (Select loan from the list)” will contain all already entered data on borrowings by non-residents. Type of agreement means one of the following legal operations: loan agreement, revolving, reprogramming, refinancing, syndication, compensation, converting cash in credit deal, sale/assignment of claims to non-resident/resident and the conversion of debt to capital. Click on magnifying glass from the drop-down list to select appropriate option. Date of agreement – enter the correct date of agreement by clicking the calendar next to the field (manual entry is not allowed). Loan type means one of the following legal operations: financial loan, commodity loan, financial leasing, short-term credit line (overdraft on the account of a resident with foreign bank according to contract and other credit-legal operations). Click on magnifying glass from the drop-down list to select appropriate option. Security instrument means one of the following collateral: mortgage, collateral, guarantee, bill of exchange and other security instruments. Click on magnifying glass from the drop-down list to select appropriate option. Government guarantees (Montenegro) – Select appropriate option from the drop-down list:  yes  no Maturity means the period in which the loan is concluded, as follows: short-term - up to 1 year and long-term that can be from 1 to 3 years, 3 to 5 years and more than 5 years. Click on magnifying glass from the drop-down list to select appropriate option. Loan agreement currency means the currency in which the loan is concluded. Click on magnifying glass from the drop-down list to select appropriate currency. Loan repayment currency means the currency in which the loan is repaid. Click on magnifying glass from the drop-down list to select appropriate currency.

68 Agreed amount means agreed amount of loan denominated in euros. Disbursed amount means total amount of the loan which is realized in euros. Principal Debt position at the beginning of the reporting period means debt principal balance at the beginning of the reporting period. This data will automatically update based on data entered from the previous period and they cannot be changed. Increase of principal means the amount by which principal increased in the reporting period. Principal due for payment means the amount of principal that matured during the reporting period. Principal repaid in the reporting period means the amount of principal that is repaid during the reporting period. Capitalized interests (amount) mean the amount of capitalized interests, where the capitalization of interests involves the conversion of accrued interests to the principal. Thus, new interests are accounted on this new principal. Exchange rate changes (amount) mean the amount of incurred foreign exchange differences. Enter minus (-) sign in negative foreign exchange. Other (specify the type of change) means the type of changes that affect the increase or decrease in debt (for example: debt write-off, conversion of debt into capital, debt assumption and the like). Other (amount) means the amount for which the debt increased or decreased (minus (–) sign). Debt position at the end of the period means the total debt position based on principal at the end of the reporting period. The field updates automatically based on previously entered data. Total outstanding principle means the balance of total outstanding principle based on principal at the end of the reporting period, including earlier periods. Interests Type of interest means the type of contractual interest, namely: without interest, fixed rate, interest included in the principal, variable interest rate - EURIBOR, LIBOR, and other types of interests. Click on magnifying glass from the drop-down list to select appropriate option. Interest rate – enter the amount of interest rate in percentages. Total interest on the loan – enter the total amount of accrued interest on the loan.

69 Position at beginning of the period means the overall debt balance based on interest at the beginning of the reporting period (same as new balance as at end of the previous reporting period). The field updates automatically based on previously entered data. Accrued interest for the reporting period - enter the amount of matured interest during the reporting period. Repaid interest means the amount of interest repaid in the period referred to in the report. Capitalised interest - enter the amount of capitalised interest for the reporting period. Other (specify the type of change) – enter the type of change in interest rate. Other (amount) - enter the amount for which the debt from the interest increased or decreased. The amount by which the debt reduced is entered with minus (–) sign. Position at the end of period means the debt from interest position at the end of the reporting period. The field updates automatically based on previously entered data. Accrued outstanding interest means total debt balance based on the matured unpaid interest at the end of the reporting period. Total accrued interest not yet payable means the remaining amount of debt on interest at the end of the reporting period, including the earlier periods. NOTE: When data for selected non-resident are entered, click on the field “Unesi podatke” and enter data for other non-resident. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka”. NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

70 USER GUIDE FOR FILLING IN THE FORM KO-1 - REPORT ON LENDING OPERATIONS ABROAD Only residents having lending abroad complete this form! Basic information Reporting period Select the period (quarter or year) for which the form is completed from the drop-down list. Choose Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY if the form is completed for quarter. If data are filled in on an annual basis, select the appropriate year from the drop-down list (YYYY). Information on resident Identification Number - enter the eight-digit integer to identify the resident and hit “enter”. When the identification number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name, office address, municipality, status, activity, and date of founding). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered.

71 Type of entity – designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered. Type of investment means an investment classified according to the enclosed “Codebook of the Types of Investments”. This is a mandatory field in order to differentiate “greenfield” and “brownfield” investments. Click on the magnifying glass from the drop-down list to choose one of offered options:

1. Establishing new enterprise (greenfield investment) - Only residents established during this period may choose this option.
2. Assuming shares in capital of other domestic or foreign legal or natural persons (brownfield investment) - Only residents with a change in ownership structure or other changes in capital structure (revaluation of reserves, increase in retained profit/loss, etc.) may choose this option.
3. Assuming share in capital during the privatization process
4. Establishing a subsidiary Only companies owned by non-resident complete this field. Responsible person – Enter the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail address. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements. Information on non-resident

72 Name of non-resident - Clicking on the magnifying glass opens a new window from which you can select foreign investor (non-resident) offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non-residents”. When you select the non-resident, other fields will auto-complete from the CBCG database (non-resident’s headquarters, non-resident’s country, type of entity, the activity of the non-resident, and the country of parent company). Filling in of fields Type of foreign investment and Share in equity is mandatory. If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident (see User's manual “My Requests”) Type of foreign investment - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code B – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code A – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are investments where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the subsidiary has 10% or higher share in parent company, then it is a mutual investment. Code C – is used for companies that do not have share in capital and are not sister companies. Codes FA and FB are assigned for the specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows:

73 Code FA – is assigned if reporting entity (resident) does not own equity shares or holds less than 10% of equity share in the non-resident and is a part of the same group to which the non￾resident belongs, and which have the same ultimate controlling parent (non-resident). Code FB – is assigned if reporting entity (non-resident) does not own equity portion or holds less than 10% of equity share in the non-resident and is a part of the same group to which the non-resident belongs, and which have the same ultimate controlling parent that is (resident). Code C – is assigned with companies not having share in capital and which are not mutually connected. Share in capital (in %) – is the share in the capital of a resident which a resident has at the end of the reporting period. This field is connected logically with the “type of foreign investment”. If this is only borrowing approval, i.e. Code C – in that case it cannot be higher than 0! When all fields for a non-resident are filled in, click on the field “Unesi podatke”. Data for given non￾resident will be presented in the section “Pregled podataka” (Data overview). After that, you may enter data for other non-residents, and so on. Data on loans

74 NOTE: For each non-resident creditor, separately fill in borrowing. When data for a non-resident are entered correctly in the appropriate fields, click on "Unesi podatke", and then start filling-in data for next non-resident. An overview of entered data is places in the table below the data entry space. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” (Data overview) and enter necessary changes. Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the lending. Loan After the initial (first) entry, the field “Select loan from the list” will contain all already entered data on borrowings by non-residents. Type of agreement means one of the following legal operations: loan agreement, revolving, reprogramming, refinancing, syndication, compensation, converting cash in credit deal, sale/assignment of claims to non-resident/resident and the conversion of debt to capital. Click on arrow from the drop￾down list to select option. Date of agreement – select the correct date of agreement concluding by clicking the calendar next to the field (manual entry is not allowed). Loan type means one of the following legal operations: financial loan, commodity loan, financial leasing, short-term credit line (overdraft on the account of a resident with foreign bank according to contract and other credit-legal operations). Click on arrow from the drop-down list to select option. Security instrument means one of the following security instruments: mortgage, collateral, guarantee, bill of exchange and other security instruments. Click on arrow from the drop-down list to select appropriate option. Government guarantees (Montenegro) – Select appropriate option from the drop-down list: yes no Maturity means the period in which the loan is concluded, as follows: short-term - up to 1 year and long-term that can be from 1 to 3 years, 3 to 5 years and more than 5 years. Click on arrow from the drop-down list to select appropriate option. Loan agreement currency means the currency in which the loan is concluded. Click on arrow from the drop-down list to select appropriate option.

75 Loan repayment currency means the currency in which the loan is repaid. Click on arrow from the drop￾down list to select appropriate option. Agreed amount means agreed amount of loan denominated in euros. Recorded amount means total amount of the loan which is recorded in euros. Principal Debt balance at the beginning of the period means balance of debt principal at the beginning of the reporting period. This data will be updated automatically based on the entered data from the previous period and the data cannot be changed. Increase of principal means the amount by which principal increased in the reporting period. Matured principal means the amount of principal that matured during the reporting period. Principal repaid in the reporting period means the amount of principal repaid during the reporting period. Capitalized principals (amount) mean the amount of capitalized principals, where the capitalization of interests involves the conversion of accrued interests to the principal. Thus, new interests are accounted on this new principal. Currency differentials (amount) mean the amount of incurred foreign exchange differences. Enter minus (-) sign in negative foreign exchange. Other (specify the type of change) means the type of changes that affect the increase or decrease in debt (for example: debt write-off, conversion of debt into capital, debt assumption and the like). Other (amount) means the amount for which the debt increased or decreased (minus (–) sign). Debt balance at the end of period means the total debt balance based on principal at the end of the reporting period. This field is updated automatically based on previously entered data. Total outstanding matured obligations means the balance of total outstanding matured liabilities based on principal at the end of the reporting period, including earlier periods. Interest Type of interest means the type of contractual interest, namely: without interest, fixed rate, interest included in the principal, variable interest rate - EURIBOR, LIBOR, and other types of interests. Click on arrow from the drop-down list to select appropriate option. Interest rate – enter the amount of interest rate in percentages.

76 Total interest on loan – enter the total amount of accrued interest on the loan. Balance at start of the period means the overall debt balance based on interest at the beginning of the reporting period (the same as the new balance at the end of the reporting period). This field is updated automatically based on previously entered data and data cannot be changed. Accrued interest for the reporting period - enter the amount of accrued interest during the reporting period. Repaid interest - means the amount of interest repaid in the period referred to in the report. Interest accrued to principal - enter the amount of interest accrued to principal for the reporting period. Other (state the type of change) – enter the type of change in interest rate. Other (amount) - enter the amount for which the debt from the interest increased or decreased. The amount by which the debt reduced is entered with minus (–) sign. Debt balance at the end of period means the debt from interest balance at the end of the reporting period. This field updates automatically based on previously entered data and data cannot be changed. Accrued outstanding interest means total debt balance on the basis of the matured unpaid interest at the end of the reporting period. Total accrued unmatured interest means the remaining amount of debt on interest at the end of the reporting period, including the earlier periods. NOTE: When data for selected non-resident are entered, click on the field “Unesi data” and enter data for other non-resident. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka”. NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

77 USER GUIDE FOR FILLING IN THE FORM TK-1 - REPORT ON RECEIVABLES FOR TRADE CREDITS AND ADVANCES This form is completed only by residents having receivables from non-residents based on the export of goods/services which have not been paid (trade credit) or goods/services paid in advance (given advances) that have not been imported in a period exceeding one year. Basic information Reporting period Select the period (quarter or year) for which the form is completed from the drop-down list. Choose Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY if the form is completed for quarter. Information on resident Identification Number - enter the eight-digit integer to identify the resident and hit “enter”. When the identification number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name of a resident, office address, municipality, status, activity, and date of founding). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered.

78 Type of entity – designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered. Type of investment – not obligatory Only companies owned by non-resident complete this field. Responsible person – Enter the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail address. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements. Information on non-resident Name of non-resident - Clicking on the magnifying glass opens a new window from which you can select foreign investor (non-resident) offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non-residents”. When you select the non-resident, other fields will auto-complete from the CBCG database (non-resident’s headquarters, non-resident’s country, type of entity, the activity of

79 the non-resident, and the country of parent company). If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident. Ownership relation- means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A, B, C, FA or FB Code B – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code A – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are investments where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the subsidiary has 10% or higher share in parent company, then it is a mutual investment. Code C – is used for companies that do not have share in capital and are not sister companies. Codes FA and FB are assigned for the specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if reporting entity (resident) does not own equity shares or holds less than 10% of equity share in the non-resident and is a part of the same group to which the non￾resident belongs, and which have the same ultimate controlling parent (non-resident). Code FB – is assigned if reporting entity (non-resident) does not own equity portion or holds less than 10% of equity share in the non-resident and is a part of the same group to which the non-resident belongs, and which have the same ultimate controlling parent that is (resident). Share in capital (in %) – is the share in the capital of a resident which a non-resident has at the end of the reporting period. The sum of non-residents may not have more than 100% of share in capital. This field is connected logically with the “type of foreign investment”. NOTE: Separate data on receivables based on export of goods/services which have not been paid (trade credit) or goods/services paid in advance (given advances) that have not been imported in a period exceeding one year are entered for each non-resident. Trade credits and advances are financial receivables based on credits that the suppliers of goods and services directly approve to buyers and advisers for ongoing works or works to be done, in the form of paying in advance for goods and services that have not yet been delivered. Trade credits and advances arise when the payment for goods and services does not take place at the same time as the change of ownership of the goods or the provision of services. It is necessary to show the cumulative amount of advances for the reporting period. When correct data for selected non-resident are entered, click on the field “Unesi podatke” and enter data for other non-resident. An overview of entered data is places in the table below the

80 data entry space. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” (Data overview) and enter necessary changes. Data on goods or services exported but not paid Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the lending. Status of exported goods and services but unpaid at the beginning of the reporting period Total amount of receivables – means the balance of receivables on the basis of goods and services that have been exported but not paid at the beginning of the reporting period. This field will always be automatically updated based on the data entered in the previous period and the data cannot be changed. The exception is 2018, for which the report is submitted for the first time and it is necessary to enter the total amount of receivables at the beginning of the reporting period. Of which: unpaid over one year – enter the value of goods and services that are exported but unpaid over a period exceeding one year.

81 Items Code basis – click the magnifying glass from the enclosed Codebook of Transactions Bases (Annex 1) Type of export – choose appropriate type of export: final export, outward processing or the processing of goods under customs supervision. High-value capital goods-HVCG3

• choose appropriate option: Yes or No. Original currency – choose appropriate currency from the Codebook of currencies. Amount – enter correct amount in EUR. Total collected amount during the reporting period – enter the value of total collected receivables in the reporting period (quarterly) based on previously exported goods and services in EUR Status of exported but unpaid goods and services at the end of the reporting period Total amount – shows the status of unpaid goods and services at the beginning of the reporting period + the value of goods and services in the reporting period that have not been paid – total collection in the reporting period. This field will always be automatically updated based on the previously entered data. (formula) Of which: unpaid over one year – enter the exact amount of exported but unpaid goods and services in the period exceeding one year.

3 High-value capital goods means high value goods which implies the production of capital goods, such as ships, heavy machinery and other equipment whose production can last for several months of years.

82 Data on goods or services paid in advance and not imported – advances given for import of goods/services Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the lending. Status of given advances at the beginning of the reporting period Total advances given – means the value of goods and services that have been paid in advance but not imported by the beginning of the reporting period. This field will always be automatically updated based on the data entered in the previous period and the data cannot be changed. The exception is 2018, for which the report is submitted for the first time and it is necessary to enter the total amount of receivables at the beginning of the reporting period. Of which: advances given for a period over one year – enter the exact amount of advances given for a period exceeding one year. Items

83 Code basis – click the magnifying glass from the enclosed Codebook of Transactions Bases (Annex 1) Original currency – choose appropriate currency from the Codebook of currencies. High-value capital goods-HVCG4

• choose appropriate option: Yes or No. Advances given during the reporting period - enter the exact amount of advances given during the reporting period. Closing of advances during the reporting period - enter the value of advances during the reporting period. Status of exported but unpaid goods and services at the end of the reporting period Total amount – shows the status of unpaid goods and services at the beginning of the reporting period + the value of goods and services in the reporting period that have not been paid – total collection in the reporting period. This field will always be automatically updated based on the previously entered data. (formula) Of which: unpaid over one year – enter the exact amount of exported but unpaid goods and services in the period exceeding one year. Note On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”.

4 High-value capital goods means high value goods which implies the production of capital goods, such as ships, heavy machinery and other equipment whose production can last for several months of years.

84 When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

85 USER GUIDE FOR FILLING IN THE FORM TK-2 - REPORT ON LIABILITIES FOR TRADE CREDITS AND ADVANCES This form is completed only by residents having liabilities towards non-residents based on the import of goods/services which have not been paid (trade credit) or goods/services paid in advance (received advances) that have not been exported in a period exceeding one year. Basic information Reporting period Select the period (quarter or year) for which the form is completed from the drop-down list. Choose Q1YYYY, Q2YYYY, Q3YYYY or Q4YYYY if the form is completed for quarter. Information on resident Identification Number - enter the eight-digit integer to identify the resident and hit “enter”. When the identification number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name of a resident, office address, municipality, status, activity, and date of founding).

86 Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Type of entity – designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered. Type of investment – not obligatory Responsible person – Enter the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail address. Information on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements. Information on non-resident Name of non-resident - Clicking on the magnifying glass opens a new window from which you can select non-resident offered from the CBCG database. The non-residents that you previously used appear first. If the first page does not have the non-resident you are looking for, click on the “overview of all non￾residents”. When you select the non-resident, other fields will auto-complete from the CBCG database (non-resident’s headquarters, non-resident’s country, type of entity, the activity of the non-resident,

87 and the country of parent company). If the resident does not exist in the CBCG database, you have to create a request for entering a new non-resident. Ownership relation - means one of the foreign investments classified according to the enclosed “Codebook of the Types of Foreign Investment”. Click on magnifying glass to select appropriate option: Code A, B, C, FA or FB Code B – is assigned to foreign investor (non-resident) if it holds at least 10% of share in capital of the reporting entity (resident). Code A – is used in “reverse investments”, as a specific form of direct investments. Reverse investments are investments where subsidiary purchases shares of parent company or borrows on behalf of parent company. In reverse investments, subsidiary cannot hold 10% or more in parent company’s share. If the subsidiary has 10% or higher share in parent company, then it is a mutual investment. Code C – is used for companies that do not have share in capital and are not sister companies. Codes FA and FB are assigned for the specific form of direct investments where there is horizontal connection between companies (defined in explanations of terminology). The codes are applied as follows: Code FA – is assigned if reporting entity (resident) does not own equity shares or holds less than 10% of equity share in the non-resident and is a part of the same group to which the non￾resident belongs, and which have the same ultimate controlling parent (non-resident). Code FB – is assigned if reporting entity (non-resident) does not own equity portion or holds less than 10% of equity share in the non-resident and is a part of the same group to which the non-resident belongs, and which have the same ultimate controlling parent that is (resident). Share in capital (in %) – is the share in the capital of a resident which a non-resident has at the end of the reporting period. The sum of non-residents may not have more than 100% of share in capital. This field is connected logically with the “type of foreign investment”. NOTE: Separate data on receivables based on export of goods/services which have not been paid (trade credit) or goods/services paid in advance (given advances) that have not been imported in a period exceeding one year are entered for each non-resident. Trade credits and advances are financial receivables based on credits that the suppliers of goods and services directly approve to buyers and advisers for ongoing works or works to be done, in the form of paying in advance for goods and services that have not yet been delivered. Trade credits and advances arise when the payment for goods and services does not take place at the same time as the change of ownership of the goods or the provision of services. It is necessary to show the cumulative amount of advances for the reporting period. When correct data for selected non-resident are entered, click on the field “Unesi podatke” and enter data for other non-resident. An overview of entered data is places in the table below the

88 data entry space. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” (Data overview) and enter necessary changes. Data on goods or services imported but not paid Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the lending. Status of imported but unpaid goods and services at the beginning of the reporting period Total amount of receivables – means the value of goods and services that have been imported but not paid at the beginning of the reporting period. This field will always be automatically updated based on the data entered in the previous period and the data cannot be changed. The exception is 2018, for which the report is submitted for the first time and it is necessary to enter the total amount of receivables at the beginning of the reporting period. Of which: unpaid over one year – enter the value of goods and services that are imported but unpaid over a period exceeding one year.

89 Items Code basis – click the magnifying glass from the enclosed Codebook of Transactions Bases (Annex 1) Type of import – choose appropriate type of import: final import, inward processing or the processing of goods under customs supervision. High-value capital goods-HVCG5

• choose appropriate option: Yes or No. Original currency – choose appropriate currency from the Codebook of currencies. Amount – enter correct amount in EUR. Total payments during the reporting period – enter the value of paid goods/services during the reporting period in EUR, which have been important but not paid in earlier reporting periods. Status of imported but unpaid goods and services at the end of the reporting period Total amount – shows the status of imported but unpaid goods and services at the beginning of the reporting period + the value of goods and services in the reporting period that have not been paid – total payments in the reporting period. This field will always be automatically updated based on the previously entered data. (formula) Of which: unpaid over one year – enter the value of unpaid goods and services at the end of the reporting period.

5 High-value capital goods means high value goods which implies the production of capital goods, such as ships, heavy machinery and other equipment whose production can last for several months of years.

90 Data on goods or services paid in advance and not exported – advances received for export of goods/services Non-resident’s name – Click on the magnifying glass to select one of previously entered non-residents for which you want to enter the lending. Status of received advances at the beginning of the reporting period Total advances received – means the value of goods and services that have been paid in advance but not exported by the beginning of the reporting period. This field will always be automatically updated based on the data entered in the previous period and the data cannot be changed. The exception is 2018, for which the report is submitted for the first time and it is necessary to enter the total amount of receivables at the beginning of the reporting period. Of which: advances received for a period over one year – enter the exact amount of advances received for a period exceeding one year. Items

91 Code basis – click the magnifying glass from the enclosed Codebook of Transactions Bases (Annex 1) High-value capital goods-HVCG6

• choose appropriate option: Yes or No. Original currency – choose appropriate currency from the Codebook of currencies. Advances received during the reporting period for export of goods/services - enter the value of advances received for export of goods/services in EUR. Closing of advances during the reporting period - enter the value of repaid advances. Status of received advances at the end of the reporting period Total advances received – shows the status of advances received at the beginning of the reporting period + received advances based on exports of goods and services during the reporting period – closing of advances during the reporting period. This field will always be automatically updated based on the previously entered data. (formula) Of which: advances received over one year – enter the value of received advances for the period exceeding one year. Note On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

6 High-value capital goods means high value goods which implies the production of capital goods, such as ships, heavy machinery and other equipment whose production can last for several months of years.

92 USER GUIDE FOR FILLING IN THE FORM RN–1 - REPORT ON THE FOREIGN ACCOUNT BALANCE AND TURNOVER Only residents having an account open with foreign banks complete this form! Basic information Reporting period Select the period (month and year) for which the form is completed from the drop-down list. Data on resident Data on resident ID Number - enter the eight-digit integer to identify the resident and hit “enter”. When the ID number is entered, the system auto-completes other information on the resident from the Central Registry of Business Entities (name, office address, municipality, status, activity, and date of founding). Status – indicates whether a resident regularly operates or is in the process of bankruptcy or liquidation. Activity (main activity) – represents main activity for which the resident is registered. Click on the magnifying glass to select appropriate option. Type of entity – designates one of the entities classified according to the enclosed “Codebook of the Type of Entity” (enclosed). Click on the magnifying glass to select the entity’s code (from the drop-down list) according to the activity for which the resident is registered.

93 Type of investment – This is not mandatory field to be completed in Form RN–1. Responsible person – Enter the name and surname of the person responsible for the validation of resident’s data (e.g. director). Write also the responsible person’s address and e-mail address. Data on the person filling in the report Name and surname, phone and the date of entry will be auto-competed with the information delivered during the delivery of token. It is only necessary to enter the name of the accounting agency if it fills in the report. Accounting agency means an entity to which a resident, in accordance with the Accounting Law, entrusted bookkeeping and preparation of financial statements. INFORMATION ON THE ACCOUNT TURNOVER Account number - enter the number of resident's account with a foreign bank. If resident has more accounts abroad, submit separate reports for each account. Name of the foreign bank with which the account has been opened - enter the name of the foreign bank where the account is opened by a resident. Country of the foreign bank with which the account has been opened - means the country code according to ISO 3166 in which the foreign bank has its headquarters. Click on magnifying glass to select appropriate option.

94 Opening balance means account balance at the beginning of the reporting period, expressed in euros. This field updates automatically based on previously entered data, and data cannot be changed. New balance - means the account balance at the end of the reporting period. This field is updated automatically based on previously entered data, and data cannot be changed. Data on transactions NOTE: Transactions should reflect the differences between opening and new balance at the foreign account. Click on plus (+) sign to add transaction. Each transaction should be presented separately. Type of transaction means the increase or decrease of funds in the account, depending on how the transactions affect the account balance. Click on arrow from drop-down list to select appropriate option. Transaction code means one of the transactions classified according to the enclosed “Codebook of Transactions Bases”. Click on arrow from drop-down list to select appropriate option. Name of the foreign partner means foreign partner to which the payment is executed, or which executed payment to the account.

95 Country means the country code according to ISO 3166 in which is the office of the foreign partner. Click on magnifying glass from drop-down list to select appropriate option. Amount means the amount for which funds, denominated in euros, at the account on the basis of the relevant transaction are increased/decreased. Fields BIC of the bank in the country and Number of refund order are filled in only in the case of refund of funds. If the purpose of payments is refund of funds through bank in the country, fields “Bank” (refund) and “Number of refund order” are filled in by selecting bank in the country from the drop-down list and entering the order number with the bank. NOTE: When data are entered, click on the field “OK” and then continue entering data for other non￾resident. If you want to change already entered data, click on the small pencil next to the non-resident in the table “Pregled podataka” (Data overview). NOTE On the page “NOTE” you may leave a brief comment or clarification related to the completed form. A maximum of 1000 characters can be entered into the field. Overview and signature On this page, you can see an overview of all entered data to be checked. The form cannot be submitted if mandatory fields are left not-filled in, or if the form is improperly completed. The application itself will report an error and will not allow submission of form until it is properly completed. The form shall not be considered submitted until you select certificate for signing request at the end of page “Overview and signature” and click on the field “Sign”. When you submit the form, it can be seen on the “overview of all forms” field. The form can be discarded and re-entered in the case of errors or necessary changes.

96 ANNEX: Codebooks CODEBOOK OF THE TYPES OF INVESTMENTS Code Description 1 Establishment of a new company (green field investment) 2 Taking over a part of the equity of other domestic or foreign legal or natural persons (brown field investment) 3 Taking over a part of the equity in the privatization process 4 The establishment of a foreign company subsidiary CODEBOOK OF THE TYPES OF FOREIGN INVESTMENT Code Description A Direct foreign investor (founder/owner) B Branch (reverse investment) FA Horizontally associated companies belonging to the group of companies of the direct foreign investor FB Horizontally associated companies belonging to the group of companies of non-resident branch C There is no ownership relationship CODEBOOK OF THE TYPE OF ENTITY Code of the kind of entity for residents Code of the kind of entity for non￾residents Description S.1 S.2 S.11 S.21 NON-FINANCIAL SECTOR S.11001 S.21101 Public non-financial companies 110011 Public services of local governments 110012 State-owned companies S.11002 S.21102 Other non-financial companies and entrepreneurs S.11003 S.21103 Non-financial companies controlled from abroad, residents in Montenegro (only a part of a foreign company) S.12 S.22 FINANCIAL SECTOR S.122 S.222 Depository institutions other than the central bank (banks) S.123 S.223 Funds preserving the value of assets (cash funds) S.124 S.224 Investment funds S.125 S.225 Other financial intermediaries, except insurance companies and pension funds S.126 S.226 Supporting financial institutions S.127 S.227 Companies engaged in the transfer of financial funds and lenders S.128 S.228 Insurance/reinsurance company S.12801 S.22801 Public insurance companies S.12802 S.22802 Private insurance companies S.129 S.229 Pension funds S.12901 S.22901 Public pension funds S.12902 S.22902 Private pension funds S.13 S.23 GENERAL GOVERNMENT S.1311 S.2311 Central government (state agencies and organizations) S.1313 S.2313 Local governments S.1314 S.2314 Social insurance funds S.14 S.24 NATURAL PERSONS S.15 S.25 NON-PROFIT INSTITUTIONS PROVIDING SERVICES TO HOUSEHOLDS S.26 INSTITUTIONS AND BODIES OF THE EUROPEAN UNION S.27 INTERNATIONAL ORGANIZATIONS THAT ARE NOT IN THE EU

97 CODEBOOK OF TRANSACTIONS BASES Description Collections from abroad Payments to abroad I. TRANSACTIONS BETWEEN RESIDENTS AND NON-RESIDENTS CURRENT ACCOUNT – GOODS  Goods include all collections/payments of exports and imports of goods, after exports or imports. The collection/payments to carriers of goods sold in ports or at airports, if there is a customs declaration form filled out during import and/or export. Payment of goods purchased and charging for goods sold within intermediation activities are included in the item Other intermediation activities. 112 112  Advance collection and payments (advance payments) up to 90 days when exporting or importing goods includes collection of goods before the export, and/or payment for goods before import. This item excludes advance payments based on performing investment works abroad. 506 106  Collection of export of goods and/or payments of import of goods without customs declaration includes export/import of books, professional literature, sale of goods to foreigners, including charging for or paying of goods sold in harbours, docks and airports to carriers if there were no customs declaration form filled out during import and/or export, regardless if the payments and/or collection was performed before or after the delivery of goods. 147 147  Write-off of differences at invoiced value of goods 650 650  Accrual of differences at invoiced value of goods 651 651  Received coverages for loro (export) letters of credit 514  Intermediation activities include all collections and payments within intermediation services. Intermediation is defined as purchase of goods by a resident from a non-resident resold to a non-resident without goods entering the country. 516 116 CURRENT ACCOUNT – SERVICES PROCESSING AND REPAIR  Services of goods processing include collections/payments for services of goods processing (oil refinement, processing operations in textile and metal industry, processing operations in shipbuilding, assembling, labelling, packaging, and the like) performed by enterprises 7 that are not owners of goods being processed. This item includes only the value of service and material used, but not the value of goods being processed. It excludes installation of construction elements (included in construction services), the repair of computer equipment (included in computer services), and maintenance of devices and equipment on terminals/ports (included in transport services). 315 315  Repair and maintenance (servicing) of goods includes maintenance and repair performed by residents on goods owned by non-residents (and vice-versa). The value of maintenance or repair includes all parts or materials purchased by maintenance staff and which are included in fees. This item also includes repair and maintenance of ships, aircrafts and other means of transport are in. It excludes payments for repairs performed by construction and fitter companies (see Investment works, construction and installation), the repair of computer equipment (see Telecommunication, computer and information services), and maintenance of equipment and devices at airports and in ports (see Air transport – other and Maritime transport – other). Parts and materials calculated separately have to be included in goods. 314 314 TRANSPORT Maritime transport includes all maritime transport services  Passenger transport 202 202  Freight transport 201 201  Other 208 208 Air transport includes all air transport services  Passenger transport 242 242  Freight transport 241 241  Other 248 248 Road transport includes all road transport services  Passenger transport 252 252  Freight transport 251 251  Other 258 258

7 Note: The term “enterprise” in the codebook means local companies and other residents and/or foreign companies

98 Railway transport includes all railway transport services  Passenger transport 222 222  Freight transport 221 221  Other 228 228 Inland waterway transport refers to international waterway transport in rivers, canals and lakes. It includes all inland waters inside one country, as well as those in two or more countries.  Passenger transport 232 232  Freight transport 231 231  Other 238 238 Passenger transport includes transport of non-residents in international transport by domestic vehicles, transport of residents by foreign vehicles, transport of passengers in the country by foreign vehicles, including other costs occurring during transport of passengers (costs of excess baggage, food and drink in the vehicles, and the like). This item excludes transport of non-residents by domestic vehicles within the country (see Tourism). Freight transport includes transport of goods and loading and/or unloading services if there is a contract between the owner of goods and the carrier which envisages that carrier should perform those services. Other includes all types of services in harbours, airports and other terminal lines. These services cover: cargo, loading, unloading, storage, warehousing, packaging, maintenance and cleaning of transport equipment, towing and salvaging of vehicles, renting of berths (e.g. annual berths), as well as fees and margins of agents for execution of cargo and passenger transport services). This item excludes services of renting vehicles with crew (see Renting of vehicles with crew), exploitation costs of carriers (see Other transport related services), other warehousing of goods (see Other business and technical services). Other transport services  Electric energy transmission – includes services for transmission of electric energy by means of high voltage transmission lines through connected group of lines and associated equipment between points of suppliers and points where it is converted into a low-voltage electricity for delivery to consumers or delivery to other electric systems. These services include fees for the transmission of electric energy when it is separated from the production and distribution processes. This item excludes electric energy distribution services (which are included under the item Other transport related services) and only the provision of electric energy. 213 213  Oil and gas pipeline transport services include international transport of goods through pipelines, oil transport and transport of related products and gas. This item excludes distribution services, usually from substations to consumers (which are included under Other transport related services), as well as the value of transported products (which are included under Goods). 214 214  Freight forwarding services 270 270  Renting vehicles with crew for a specific period 218 218  Other transport related services include exploitation costs, road fees, transit duties, overflight duties. 219 219  Postal and courier services cover services supporting telecommunication services and other similar services: postal and telegraph services, gathering, transport and delivery of letters, newspapers, magazines, brochures, other printing materials and packages, as well as services performed in post office, and service of renting post boxes. 249 249 TRAVEL - TOURISM  Purchase/sale of foreign cash from/to non-residents. This item excludes purchase/sale of cash from residents (see Transactions between residents and neutral transactions) 701 701  Purchase/sale of cheques from/to non-residents (retransfer for unused euros). This item excludes purchase/sale of cheques from residents (see Transactions between residents and neutral transactions). 699 699  Sale and/or purchase of domestic currency abroad 707 707  Payments abroad for foreign issuers’ sold cheques - 341  Tourist services include travel agencies’ services including advance payments, accommodation services – hotels and other accommodation, restaurants, organisation of excursions, etc. 702 895  Other includes sale of goods and other services to tourists, fishing and hunting permits, vouchers sold for toll fees for vehicles with foreign licence plates and petrol vouchers 705 702  Casinos cover purchase of cash from games on chance and/or sale of cash for casinos 713 713  Business trips abroad include total costs of residents’ business trips, except exploitation costs which are included in transport costs. This item covers purchase of goods and services by business passengers. In addition, it includes acquisition of goods and services for their own use by seasonal, border and other workers that are non-residents in the country where they have been working.

• 340  Business expenses for non-residents in the country 342 -  Health services to tourists include costs and fees for medical treatments in hospitals, spas, and rehabilitation centres, as well as medical care expenses, etc. 401 804

99  Total education-related expenditures include scholarships, tuition fees, specialisation 812 812 INVESTMENT WORKS, CONSTRUCTION AND INSTALLATION  Construction works in the country include construction and installation services, including imported equipment and goods purchased by non-resident for projects works that do not exceed one year. This item excludes payments of profit from performed investment works (included into Profit from performed investment works in the country and abroad) 317 317  Advance payments for performing construction works include advances, i.e. inflows for interim situations and calculations (they refer to enterprises that require a separate bookkeeping for a business unit or payment of taxes in the country of their investment activity), as well as payments abroad based on performing investment (construction) works in the country. This item excludes payments of profit from performed investment works (include it in 420 Profit from performing investment works in the country and abroad). 421 421  Construction works in the country performed by non-residents cover investment works in the country performed by non-residents shorter than one year and they refer to the preparation of site, construction works and civil engineering, installation and assembling of machines, equipment and plants, construction repairs. This item excludes preparation of site for mining, extraction of oil and gas (included in 306 Services relating to agriculture, mining and manufacturing industries, including waste processing services) and payments of income from investment (construction) works completed (which is included in 420 Profit from performing investment works in the country and abroad). 475 475  Construction works performed in the country over one year cover collections and all payments, including advance payments based on investment (construction) works performed by non-residents in the country over one year. 423 423  Construction works abroad cover construction works performed by residents abroad up to one year and they include services of construction and assembly, including purchase of equipment and goods abroad (by resident) for work on projects, preparation of sites, construction and civil engineering works, installation and assembling of machines, equipment and plants, services of renting construction equipment, construction repair. 422 422  Advance payments for construction works abroad cover prepayments based on investment works and/or inflows from interim situations and calculations (they refer to enterprises that have to keep separate accounting for business unit and pay taxes in the country where they perform their investment activity). This item excludes payment of profit from executed investment works (included in 420 Profit from performing investment works in the country and abroad). 424 424 INSURANCE  Insurance – premiums 259 259  Fees for insurance companies and voluntary pension funds 264 264  Fees of reinsurers 267 267  Reinsurance – premiums 268 268  Reinsurance – settlement of claims 269 269  Payment of contributions in voluntary pension funds in the country include collections and payments made by non-resident based on pension contribution into voluntary pension funds in the country. 263 263 FINANCIAL SERVICES  Commission and costs of banking operations and other credit intermediation activities include fees and compensations related to: granting of loans and accepting of deposits, letters of credits, guarantees, financial lease, and settlement of claims between resident and non-resident insurer, financial consulting, financial asset management, payment cards operations, credit rating services, creditworthiness assessment services, and the like. 400 400  Commission and transactions with securities and financial derivatives 403 403 INDUSTRIAL PROPERTY RIGHTS  Licenses, patents, trademarks and other copyrights include payment/collection of fees for licenses and other fees for the use of copyrights. This item includes fees for licenses for reproduction or distribution of intellectual property that arises from produced originals or prototypes (such as property rights on books and manuscripts, computer programme equipment, sound carriers) and related rights (such as rights for life performance or for television, cable or satellite broadcasting). This item excludes Purchase and sale of patents and licenses (see Sale/Purchase of patents, licences and other non-financial assets) 301 301  Franchise 410 410 TELECOMMUNICATION, COMPUTER AND INFORMATION SERVICES  Telecommunication services include sound transmission, transmission of information by phone or telex, telegrams, cable or satellite transmission, including contributions for satellite viewing, lease of satellites, electronic mail, etc. They also include mobile phone services, main internet network and network access, including internet access. This item excludes services of installing equipment for phone network since they are included in construction and services of databases (which are included in Information services). This item does not include value of transferred information. 245 245  Computer services include data processing, database related activities, programming, maintenance and repair of computer equipment, consulting in the area of computer science and all other services related to hardware and/or software. This item excludes fees for licenses for reproduction and/or distribution of software which are 302 302

100 included in fees for the use of intellectual property (included in 301 Licenses, patents, trademarks and other copyrights).  Information services - services of news agencies – include providing of news, photos and important articles to the media. 312 312  Other information services include databases services of news agencies (establishing of databases, data storage, data publishing and databases publishing, including directories) on the network and through magnetic, optical or printed media and internet portals for searching (search engine services that find internet addresses for clients that enter key word). In addition, they include magazine subscriptions via post office, electronic transfer or other means, other services of providing network content, and library and archiving services. This item excludes sale of newspapers and magazines, which are included in Turnover of goods. Takeover of content other than software (which is included in Computer services) or audio or video content (included in Audio- visual and connected services) is included in information services. 313 313 OTHER BUSINESS SERVICES Research and development services  Research and development include fundamental and applied research, laboratory and other services, projects and studies, archaeological research, and registration fees for expert meetings. They also include commercial research connected with electronics, pharmacy and biotechnology. 303 303  Sale/Purchase of patents, licenses and other intangible equipment arising from research and development 770 770 Professional services and consulting management services  Advertising and market research includes advertising in media, at fairs, presentation of products abroad, and market research. 300 300  Legal services cover legal advisory services and representation in all legal, court and statutory proceedings, services of compiling legal documentation and instruments. 304 304  Accounting services cover services of keeping business books for companies and other participants in economy, services of controlling accounting records and financial reports, tax planning services and providing advises to companies and preparation of tax documentation. 309 309  Services of business consulting and consulting with regard to management and public relation services cover entrepreneurial and business consulting, and registration fees for business meetings. They include management fees, management audit, advisory services regarding market management, human resources, managing production and projects; and consulting services, giving guidance and providing operating services concerning improvement of clients’ public image and their public relations with other institutions as well. 305 305  Services of market research and polls cover design, creation and marketing of advertisements of advertising agencies, media placements, including buying and selling advertising space, services of maintaining fair exhibits, advertising of products abroad, market research, telemarketing and polls for different issues. 325 325  Other services include custody and investigation services, translation and interpretation services, photographic services, utility services, bidding documents processing services 307 307 Technical, trading and other business services  Architectural services include transactions referring to construction planning and drawing up architectural concept design. 316 316  Engineer services cover planning, development and use of machines, materials, instruments, structures, processes and systems. This type of services includes planning, designing and studies provision related to the construction projects. This item excludes mining engineering (included in 323 Services related to mining and oil and gas extraction). 318 318  Scientific and other technical services cover geodetic surveys, cartography, product testing, and certification and technical testing and other related technical services. 321 321 Waste disposal and removal of pollution, agricultural and mining services  Services related to agriculture, mining and fishing including manufacturing industry include cover agricultural services related to agriculture, hunting, forestry, wood-cutting and fishing, and veterinary services. 306 306  Services related to waste disposal and removal of pollution cover gathering and disposal of waste, recovery, sanitary and other environmental protection services. It also includes environmental protection related services, such as reduction of carbon dioxide emissions that are not included into some other specific category. 322 322  Services related to mining and oil and gas extraction cover mining services provided on oil and gas fields, including drilling, installation of drilling towers, repair and installation and cementing of oil and gas wells. They include services related to testing and exploration of mineral deposits, as well as mining engineering and geological measurement of soil. 323 323 Operational leasing  Leasing of equipment includes all types of equipment leasing (machines, computers and other equipment). 489 489  Renting of transport vehicles without crew for a specific period includes renting of ships, airplanes and other vehicles without crew. 490 490 Trade related services  Agency and intermediation fees and other trade related costs includes fees for transactions with goods and services paid to traders, commodities brokers, dealers, auctioneers and commissioners. It excludes franchise fees (included in the Fees for the use of intellectual property not otherwise included), intermediation services related to financial instruments (which are included in Financial services), insurance intermediation services (included in Insurance ancillary services) and fees related to transport, like representation fees (included in Transport). 310 310

101  Warehousing, except for storage at railway stations, airports and ports (see Transport) 319 319  Quality and quantity control when taking over goods includes technical testing of goods, analysis and issuing of certificates. 280 280  Paying lease for business premises 320 320  Decrease of receivables from services - 308  Advance collections and payments up to 90 days from services, except advance payments in investment works and tourism (see Advances based on construction works). 507 107 PERSONAL, CULTURAL AND RECREATIONAL SERVICES  Audio-visual services include commission related to movie and video activities, radio and television activities, as well as fees for distribution rights and royalties. This item includes services and related fees concerning movies production (on filmstrip or movie), radio and television programme (live or recorded) and musical records. It also include renting of audio and visual and the related products, access to coded TV channels (such as cable or satellite services), mass produced audio visual products purchased or sold for permanent use delivered electronically (data file transfer), fees to performers (actors, musicians, dancers), authors, and the like. This item excludes fees or licenses for reproduction and/or distribution of audio and visual products (included in fees for use of intellectual properties not included elsewhere). 409 409  Education services include services provided between residents and non-residents that refer to fees for services rendered by teachers, lectors, including courses and classes provided abroad. 811 811  Health services include services provided by physicians, medical nurses and paramedics and similar staff, as well as laboratory and similar services provided either remote or directly. They exclude all expenditures of passengers related to education and health (included in travel). 810 780  Services related with cultural heritage include services of museums, libraries, orchestras, other cultural activities and fees, membership fees of cultural organisations other than those that include persons outside country that are residents (included in Travel). 765 765  Sport and recreation cover services related to sport and recreational activities, including registration fees, membership fees, and the like. 760 760 GOVERNMENT GOODS AND SERVICES  Income and expenses of domestic embassies and consulates cover all transactions (with both goods and services) of embassies and consulates. 721 721  Services of military units and agencies cover all transactions (with both goods and services) of military units and agencies. 722 722  Other government goods and services not included elsewhere 723 723 CURRENT ACCOUNTS – PRIMARY INCOME LABOUR INCOME  Salaries and compensations to employed seasonal workers, salaries and compensation to residents employed in foreign diplomatic missions and international organisations, i.e. personal income of non-residents employed in our diplomatic missions abroad. 600 600  Revenues from supporting foreign diplomatic missions in the country and costs of domestic missions abroad 720 720 CAPITAL INCOME INCOME FROM DIRECT INVESTMENTS Income from equity investments  Dividends and other income from share in equity, i.e. from conducting economic activities abroad (transfer of profit), if it is direct investment (equity share 10% and over). 578 160  Profit from performed construction works in the country and abroad 420 420  Income from investments into immovable property includes payments based on land and immovable property lease between residents and non-residents (leases and the like). 444 444 Interest income  Interest on intercompany loan includes payment of interests on intercompany loan (payment of foreign capital that does not increase initial capital or return of such capital). 513 513 INCOME FROM PORTFOLIO INVESTMENTS Income from equity investments  Income from portfolio investments includes dividends and other income paid from the share in equity capital lower than 10%. 326 326  Income from share in investment funds covers income from investments made from investment fund portfolio reduced by operating costs. Net income of investment funds after deduction of operating costs belongs to shareholders. 327 327 Income from interests on investments in debt securities  Payment of interest to investments into bonds and bills of exchange 430 430  Payment of interest to investments into money market instruments 431 431

102 INCOME FROM OTHER INVESTMENTS (income from investments into other types of equity)  Interest to long-term loans, including interest from financial leasing (interests on intercompany loan are excluded). 510 110  Interest on short-term loans (interests on intercompany loan are excluded). 511 111  Interest on time deposits and demand deposits 512 512  Other costs from loans granted to foreign countries, i.e. loans taken from foreign countries 528 128  Payment of default interest 529 129  Income from investment of insurance policyholders includes total primary income made from investing in technical reserves of insurance. It includes reserves recorded by the insurance company as an obligation to policyholders. 509 509 CURRENT ACCOUNT – SECONDARY INCOME  Assistance and gifts to public sector include assistance and gifts to public sector and/or public sector support. 802 801  Support and grants of other sectors include payments between residents and non-residents in the form of monetary gift, inheritance, sustenance and other gifts and assistances to other sectors and/or from other sectors. 767 767  Current international cooperation includes money transfers between different countries or between countries and international organisations. A portion of international cooperation includes cooperation with the EU institutions. 805 805  Other public transfers cover received taxes, awards, regular transfers of government institutions to international organisations and vice versa, fees for foreign technical assistance, membership fees and other transfers. 803 803  Annuities, pensions, disability and other sectors’ social benefits include payments of contributions for social security in favour of foreign funds or states, and payments of pensions and other social benefits from foreign funds to residents. 800 800  Annuities, pensions, disability and other social benefits – government include payments of contributions for social security from non-residents on behalf of social funds in the country and payments from these funds and other social benefits to non-residents paid by government funds in the country. 806 806  Taxes and fees of the government cover court deposits, bails, fines, duties, rewards, visa issued, tax reliefs and the like. 892 892  Other public transfers (taxes, rewards, etc.) 769 769  Remittances to domestic natural persons 780 -  Remittances to accounts of domestic natural persons, i.e. payments to foreign countries from accounts of domestic natural persons 781 894  Workers’ remittances in favour of legal persons. Workers’ remittances to their accounts; workers’ remittances in favour of social insurance organisations based on the pension insurance of workers and health insurance of their families 782  Insurance related transfers include settlement of claims where the policyholder in foreign insurer and beneficiary are residents, i.e. policyholder in domestic insurer and beneficiary are non-residents. 260 260  Insurance related transfers cover settlement of claims where the policyholder in foreign insurer is non￾resident and beneficiary is resident, i.e. policyholder in domestic insurer is resident and beneficiary is non￾resident. 261 261 CAPITAL ACCOUNT - CAPITAL TRANSFERS PUBLIC SECTOR  Transfers of the public sector to non-residents and transfers of non-residents to the public sector include money transfers that increase fixed capital in the country: e.g. monetary subsidies for investment projects and intergovernmental damages paid at government level, concessions for economic resources, forests, springs and the like). It excludes concessions for infrastructure (see Financial account – investments in equity securities – foreign capital investments in domestic companies). 901 901  Debt relief covers voluntary write-off of the entire or part of debt within agreement between the creditor and the debtor. 902 902 TRANSFERS OF OTHER SECTORS  Sale of immovable property to foreign diplomatic representative offices and/or purchase of immovable property from these representative offices 771 771  Migrant transfers include transfers of funds associated with migration of individuals from one economy to another 768 768  Transfers between accounts of residents and non-residents due to the change in status 640 640 FINANCIAL ACCOUNT FINANCIAL ACCOUNT – DIRECT INVESTMENTS FINANCIAL ASSETS Equity investments  Investments of domestic capital by founder (resident) in foreign banks and companies include all 579 179

103 resident’s investments in shares of foreign companies and banks (share in capital of 10% and more) and/or decrease in the share of capital  Investments of domestic capital by branch (resident) in parent legal person (founder-non-resident) include all branch’s (resident) investments in shares (capital) of parent legal person (founder) who is resident, and/or decrease in the share of capital. 556 556  Investments of domestic capital by related companies (sister companies - residents) in other related legal person (non-resident) includes all investments into shares of foreign related parties (with the founder being either resident or non-resident), and/or decrease in the share of capital. 554 554 Intercompany debt  Payment of domestic capital by founder (resident) that does not increase initial capital, i.e. payment of that capital includes all disbursed and/or repaid intercompany loans. 566 566  Payment of domestic capital in parent legal person (non-resident) by branch in the country that does not increase initial capital, i.e. return of that capital includes disbursed intercompany loans to parent legal person payment and their repayment. 665 665  Payment of domestic capital by related party resident (sister companies) in other related party (non￾resident) that does not increase initial capital, i.e. return of such capital includes disbursed intercompany loans from related person (resident) to other related person (non-resident) and their repayment. 664 664  Sale/purchase of immovable property abroad 539 139 FINANCIAL LIABILITIES Equity investments  Investments of foreign capital from founders (non-residents) into domestic companies and banks include purchase/sale of shares or equity share in initial capital of legal person (resident) and other transactions aimed at increasing/decreasing the share. This item includes investment flows from direct investor (founder) to its companies in which it invests directly (share in capital 10% and more), including concessions for infrastructure and the like. 557 157  Investment of foreign capital in parent legal person (resident) by foreign subsidiary – covers investment flows from subsidiary in direct investor (share in capital of parent legal person is less than 10%). 667 667  Investment of foreign capital by related person – non-resident (sister companies) in another related person (resident) – covers equity investments between the companies that are not inter controlled and do not influence each other, but both are controlled or under the influence of the same direct investor (founder). 558 158  Sale and/or purchase of immovable property in Montenegro covers sale and/or purchase of immovable property in Montenegro, other than the sale and/or purchase of immovable property to foreign diplomatic representative offices (see Capital account – sale of immovable property to foreign diplomatic representative offices and/or purchase of immovable property from these representative offices). 538 138  Payment received for sold share of capital in another domestic company or payment to non-residents for the sold share in another domestic company 666 666 Intercompany loans  Payment of foreign capital by founder that does not increase initial capital and/or repayment of such capital covers additional payment of funds of the founder that do not increase initial capital (received and/or repaid intercompany loan). 560 560  Payment of foreign capital that does not increase initial capital in parent legal person resident by its subsidiary non-resident covers additional payment of funds that do not increase initial capital in parent legal person resident by its subsidiary non-resident, and/or repayment of such capital. 660 660  Payment of foreign capital that does not increase initial capital in related party (sister companies) of resident by another related party non-resident and/or repayment of such capital. 559 159 FINANCIAL ACCOUNT –PORTFOLIO INVESTMENTS INVESTMENTS IN EQUITY SECURITIES  Portfolio investments of residents in foreign equity securities and shares in capital (share in capital less than 10%) 519 519  Portfolio investments of non-residents in domestic equity securities and shares in capital (share in capital less than 10%) 518 518 INVESTMENTS IN DEBT SECURITIES  Sale and/or purchase of debt securities of foreign issuers (principal): bonds, bills of exchange 540 540  Sale and/or purchase of debt securities of domestic issuers (principal): bonds, bills of exchange 541 541  Sale and/or purchase of debt securities of foreign issuers (principal): money market instruments (treasury bills, certificate of deposits), financial derivatives - options 542 542  Sale and/or purchase of debt securities of domestic issuers (principal): money market instruments (treasury bills, certificate of deposits), financial derivatives - options 543 543 DERIVATIVE FINANCIAL INSTRUMENTS  Inflow and/or outflow for net settlements based on options and forward instruments issued by non￾residents (forward, future, swap, and the like) 544 544  Inflow and/or outflow for net settlements based on options and forward instruments issued by residents (forward, future, swap, and the like) 545 545

104 FINANCIAL ACCOUNT – OTHER INVESTMENTS - LOANS  Use and/or repayment of foreign long-term loans from abroad (over one year) 521 121  Use and/or repayment of short term loans from abroad: short-term financial loans from abroad 522 123  Sale of loans to non-residents, i.e. repayment of loans sold to non-residents 535 135  Repayment and/or use of long-term loans to abroad (over one year) 517 166  Financial lease and/or repayment of financial lease 575 175  Repayment and/or use of short term loans to abroad: short-term financial loans to abroad 523 169  Use and/or repayment of subordinated loans 520 120  Use of funds of commodity loan and/or crediting the foreign account (1009) for payment of import of goods under signed commodity loans 574 174  Export and/or import of goods and services under the agreed timeframe longer than 90 days 524 170  Payment based on share or purchase of share in foreign syndicated loan granted to resident for payment of imports of goods and services from abroad and/ or payment based of such participation or its sale to non-resident 526 126 FINANCIAL ACCOUNT – CASH AND DEPOSITS  Depositing cash in foreign currency, Euro and cheques to current accounts and deposits of non-residents, and/or withdrawal of cash in foreign currency, Euro and issued cheques from current accounts and deposits of non-residents 898 898  Euro denominated cheques sold 706 -  Increase and/or decrease of deposits of non-residents based on custody operations (account 2202) 500 100  Increase and/or decrease of deposits of foreign banks and other financial organisations (account 2309, 2310, 2315, 2316) 501 101  Increase and/or decrease of deposits of non-residents (account 2329, 2330, 2333, 2334, 2341, 2342, 2355, 2356, 2371, 2372, 2385, 2386,) 502 102  Increase and/or decrease of deposits of non-residents at escrow account (account 2403, 2404, 2407, 2408, 2411, 2412, 2417, 2418, 2435, 2436, 2439, 2440, 2443, 2444) 503 103  Increase and/or decrease of term deposits of non-residents (foreign banks and other non-residents) 504 104  Decrease and/or increase of term deposits with foreign banks 505 105  Payment on other bases (payment of costs in the country other than foreign trade, postal services, utility services and the like) from non-residents’ accounts 704 -  Purchase of foreign currencies from non-residents’ accounts 703 703 FINANCIAL ACCOUNT – OTHER ASSETS AND LIABILITIES  Decrease and/or increase of domestic capital in international financial organisations (membership fees to international organisations) 580 180  Called loro guarantees for operations between residents: settlement of called loro guarantee for operations between residents 525 125  Receivables collected on called guarantees 527 127  Loss coverage in a company, i.e. loss coverage of own company in abroad 622 622  Payment from bankruptcy pool of assets or based on court order, including payment of draft acceptances 670 670  Received coverages for withdrawn cash from saving deposits of non-residents with domestic banks, i.e. withdrawn cash from saving deposits with foreign banks 508 108  Received coverages for cheques, i.e. cheques submitted for the collection abroad and use of coverage for loro cheques 515 115  Decline in receivables based on capital transactions - 684 Payment cards  Payments for balancing the current account: settlement of balance at the payment card’s account 532 132  Payment based on obligations for determined balance at the account of domestic payment cards’ account through a payment bank

• 131 II. TRANSACTIONS BETWEEN RESIDENTS AND NEUTRAL TRANSACTIONS  Purchase or sale of cash in foreign currency from residents – natural persons 796 700  Purchase or sale of cheques from residents – natural persons 795 795  Depositing or withdrawing cash in foreign currency, euro (intended for foreign transactions) and traveller’s cheques at the accounts and saving deposits of households in foreign currency 797 897  Sale of foreign goods to non-residents and residents in the country: payments abroad for foreign goods 711 711

105 sold (consignment and duty free shop)  Transfer from foreign account to domestic accounts or cash deliveries of foreign currency accounts abroad 530 130  Payments for balancing the current account: settlement of balance at the account of long-term manufacturing cooperation 533 133  Transfer of coverage for confirmed letters of credit and/or repayment of unused coverage for confirmed letters of credit 411 411  Sale and purchase of cash in foreign currency abroad: transfer of cash in foreign currency to the account abroad (debit the account 1009, and credit the account 1003), deliveries of cash in foreign currency purchased abroad to the account 1001 (debit the account 1003, and credit the account 1009) 552 152  Transfer of foreign currencies through the foreign accounts between the CBCG and authorised banks (NOTE: when cash deliveries to the account for CBCG – the bank uses code 155, and CBCG uses code 555; when cash deliveries to the account 1009 of the bank, the bank uses code 555 and CBCG uses code 155) 555 155  Transfer from the account 1009 to another account 1009 within one bank: when code 561 is used, outflow must exist with code 161 and with the same data, and/or when code 161 is used, inflow with code 561 must exist together with the same data. Transfer from one foreign account to another foreign account. 561 161  Transfer from the account 1001 to another account 1001 within one bank: when code 583 is used, outflow must exist with code 183 and with the same data, and/or when code 183 is used, inflow with code 583 must exist together with the same data) ( transfer of cash between vaults) 583 183  Transfer from the account 1009 to another account 1009 of another bank: receiving bank must use code 562, and transferring bank uses code 162 (NOTE: if one of banks is CBCG it is not allowed to use this code, but 155-555) 562 162  Transfer in the country based on cash transfer: cash transfer between banks through collecting points (use of code is allowed only at the account 1001) (Note: transferring bank uses code 163, while receiving bank uses code 563) 563 163  Purchase or sale of cash in foreign currency and cheques from/to authorised exchange offices 572 572  Transfer between foreign currency accounts in the country (NOTE: for debiting the account from which the transfer is being performed code 165 is used, while for crediting the account to which the funds are being transferred – code 565 is used) 565 165  Cash in foreign currency withdrawn based on bonds of deposited foreign currency savings - 900  Purchase and sale of funds abroad: sale of one currency and purchase of another currency 577 177  Accounting mismatch (open items) and incorrect accounting 599 199  Return of stolen cash, or robbery and stealing of cash 198 198  Transfer of funds from inflow bank to payment bank 569 -  Exchange of foreign currencies to euro 568 168  Conversion at domestic accounts 567 167

106 Annex 2

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Stamp of legal person REPORTING OF PERSONS AUTHORISED TO SUBMIT DATA PURSUANT TO THE Decision on keeping separate records on foreign current and capital transactions and their reporting to the Central Bank of Montenegro

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(name of legal person) Identification number of legal person: ______________________________ Legal person (book-keeping agency) to be assigned the privilege: Name: _________________________________ Identification number: _________________________________ Phone No.: _________________________________

E-mail address: __________________________________ Place and Date: __________________________

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Stamp and signature of the person authorised for representation