Electronic fiscalisation in Montenegro is underway. The Tax Administration has issued the specification for electronic fiscalisation, explaining how this system will work — with an implementation deadline of 1 July 2021.
New Finance Plus service — digital certificate for fiscalisation
Finance Plus will, for a price of EUR 39 + VAT, obtain a digital certificate for fiscalisation for you and register the certificate on the Tax Administration website — you do not have to worry about anything.
For all information: +382 68 031 888 (Ivana)
Key facts about fiscalisation
Electronic fiscalisation in Montenegro is the digitalisation of the fiscalisation process and an upgrade of the tax records system. It involves mandatory electronic reporting of every invoice — for cash and non-cash transactions — to the Tax Administration.
Taxpayers in the VAT system are required to:
- Acquire new electronic payment devices (ENU)
- Register them with the Tax Administration
- During registration fill in an application, based on which the Fiscalisation Taxpayer Identification Code (IKOF) is generated
Every issued invoice must be stored on the Tax Administration’s servers. Submission of invoices is done electronically, through a permanent internet connection between the ENU device, the EFI web portal and the Tax Administration server.
Cost of fiscalisation
According to initial estimates, the cost of transitioning to the new system amounts to EUR 150–350 — for acquiring new equipment and adapting the software. A reduction of these costs is being considered, including leasing the equipment.
Each time an invoice is issued, it will be necessary to obtain the Unique Invoice Identification Code (JIKR) electronically from the Tax Administration server — which will be printed on the invoice.
The entire electronic communication will be encrypted by a digital certificate (learn more: What is a digital certificate?), which you will have to possess.
If you are not a VAT taxpayer
Learn more: Who is a taxpayer.
When a taxpayer is not in the VAT system, they can create and fiscalise their cash invoices using the self-service EFI portal (SEP) of the Tax Administration.
All you need is:
- A computer or smartphone
- Access to SEP
When reporting invoices, use the digital certificate issued by a certified CA (Pošta Crne Gore) — or other defined authentication methods.
Fiscalisation of non-cash and cash invoices
Finance Plus, in cooperation with the digital cloud platform Proventum, offers clients — through the partner network — to carry out fiscalisation of non-cash invoices simply and securely.
The program enables:
- Fiscalisation of invoices in Montenegro
- Viewing of fiscalised invoices
- Sending invoices by email
For all information about the solution: +382 69 013 222 (Marija)
Finance Plus will continue to monitor and report to its clients on any changes — with verified information from the sphere of business and accounting.
The text has been prepared based on the article: bankar.me
