Regulatory Alerts2023-01-01
Law on Accounting of Montenegro
The Parliament of Montenegro enacted this law to regulate accounting standards, financial reporting, and the classification of legal persons. It mandates that entities prepare financial statements in accordance with IAS and IFRS, while classifying them as micro, small, medium, or large based on employee count, income, and assets. The legislation further requires specific submission deadlines to the Tax Administration, consolidated reporting for parent companies, and non-financial disclosures for large entities.
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