Montenegro Tax Tables 2024 - Tax Rates and Thresholds in Montenegro

This page contains the tax table information used for the calculation of tax and payroll deductions in Montenegro in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ ME, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Montenegro or would like to add to or suggest amendments to the information herein then please contact us.

Montenegro Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Montenegro are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Montenegro Tax Calculator 2024.

In Montenegro, social security deductions made by employees are not deductible from their gross income when calculating taxable income. This means that the contributions towards social security by employees are calculated based on the gross salary, and the taxable income for personal income tax purposes is determined without subtracting these contributions. Therefore, while social security contributions are mandatory and serve to fund various benefits, they do not directly reduce the taxable income of employees in Montenegro.

Montenegro Social Security and Payroll Deduction Rates in 2024

In Montenegro, both employers and employees are required to make contributions to the country's social security system. These contributions are aimed at funding a variety of benefits designed to provide support throughout various stages of an individual's life and work career. The social security system in Montenegro includes contributions for pension and disability insurance, health insurance, unemployment insurance, and child protection. Each of these elements plays a crucial role in ensuring the well-being and financial security of individuals and families in Montenegro.

Pension and disability insurance contributions fund the retirement pensions for the elderly and provide financial assistance to those who are unable to work due to disability. This ensures that individuals can maintain a reasonable standard of living even if they are no longer able to earn an income due to age or health conditions. Health insurance contributions finance the public healthcare system, offering access to medical treatments, preventive care, and hospital services to protect the health and wellness of the population.

Unemployment insurance contributions are designed to offer temporary financial support to individuals who are actively seeking employment but are currently without work. This safety net helps to mitigate the economic impact of unemployment on individuals and their families. Contributions towards child protection fund benefits related to maternity leave, child care support, and allowances for families with children, aiming to support the development and well-being of the younger generation.

The system of social security and payroll deductions in Montenegro reflects the country's commitment to social solidarity and the protection of its citizens across different life circumstances. By contributing to this system, employers and employees invest in a comprehensive safety net that promotes social cohesion and economic stability for all members of society.

Montenegro VAT Rates in 2024

VAT rates for Montenegro are reviewed annually, you can use the VAT Calculator to calculate VAT due in Montenegro or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Montenegro

The following tax tables are supported by iCalculator™ ME as part of the suite of free tax tools we provide for Montenegro.