Montenegro is hosting a three-day tax transparency conference in Kotor, where Finance Minister Novica Vuković framed modernising the tax system as an investment in the economy’s long-term credibility and competitiveness. Representatives of nearly 90 jurisdictions from the Global Forum community are attending the Corporate Authority Conference, a meeting of competent authorities on tax transparency and information exchange.
Vuković connected international tax cooperation with Montenegro’s wider reform agenda, as capital, companies and financial transactions cross national borders. “In an increasingly connected economy, no country can effectively respond to cross-border tax challenges alone,” he said, arguing that institutions need the capacity to work across borders.
His remarks linked the tax changes to the government’s commitments to strengthen fiscal stability, improve the business environment and build public institutions that meet the highest international standards. European integration gives modernisation of the tax system additional importance and a clear direction, he added.
Vuković described the government’s approach as “an investment in the long-term credibility and competitiveness of our economy”. He also presented tax transparency as an issue of economic fairness, public trust and responsible governance, rather than a technical matter alone.
Tax standards and public finances
Effective, transparent and fair taxation is needed to finance public services, support economic development and maintain stable public finances, according to the finance minister. Taxpayers who meet their obligations must be able to trust that the same rules apply to everyone.
That principle also shapes the conditions for businesses, Vuković’s remarks indicated: companies should compete through innovation, quality and productivity, not through opportunities to avoid taxation. Governments, he said, have a responsibility to ensure that public revenue serves “the wider interest of society”.
Aligning with European and international standards involves more than amending regulations. Vuković pointed to the need for institutions that apply the rules consistently, specialists with the necessary expertise and systems that enable effective cooperation with international partners.
The Ministry of Finance remains committed to supporting the transformation in close cooperation with the Tax Administration and international partners. Vuković called the Global Forum a “valuable partner of Montenegro” and said the government was determined to deepen that cooperation.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has more than 170 members, participating on equal terms. The Kotor conference brings together representatives of nearly 90 jurisdictions from the forum’s community.
Tax administration and information exchange
Sava Laketić, director of the Tax Administration of Montenegro, welcomed participants on behalf of the host. He described the conference as recognition of the administration’s work in recent years to modernise systems, strengthen its staff and build reliable international cooperation.
Hosting the meeting also carries responsibility, which the Tax Administration accepts with pride, Laketić said. The conference gives its colleagues an opportunity to work with experienced information-exchange specialists from around the world.
Laketić said the gathering showed that “a small country can be a credible and active partner in the international community” and a reliable host for global dialogue. He connected tax transparency with values Montenegro shares with European partners: the rule of law, fairness and responsible institutions.
As Montenegro advances towards the European Union, commitment to tax transparency standards is “not a formality, but a conviction”, Laketić said. He also described banking secrecy for tax purposes as a thing of the past in practice, with information exchange now a daily tool for tax administrations.
The Global Forum uses peer reviews and technical assistance to support the effective application of agreed standards in both large and small jurisdictions, Laketić noted. The Kotor discussions are intended to help participants exchange practical experience, connect with colleagues globally and strengthen their cooperation network.
Global Forum members share experience
Maria José Garde, head of the Global Forum Secretariat, thanked Laketić for his commitment to organising the conference. Montenegro’s role as host reflected its understanding of how transparency and information exchange support the fight against tax evasion, she said.
Garde said this was her first time attending the Corporate Authority Conference as head of the Secretariat. She described the meeting as an opportunity for participants to share practical experience and connect with colleagues around the world.
Discussions are intended to cover recent successes, current concerns and future challenges, Garde said. The experiences of colleagues could help participants find answers and solutions, while their daily work “brings tax cooperation to life and turns it into concrete results”.
