New incentive laws for innovation and technological development adopted
Yesterday, the Government of Montenegro adopted two new laws – the Law on Innovation Activity and the Law on Incentive Measures for the Development of Research and Innovation.
“These laws represent the basic measure for strengthening the IT economy and the functioning of the national innovative ecosystem and provide a wide range of benefits and incentives for domestic and international companies” the Ministry of Science announced.
As they added, in this way, new opportunities are opened for increasing foreign investments in Montenegro and make our country an attractive destination for technological entrepreneurship and testing of new technologies.
“When it comes to reliefs and incentives, we especially emphasis tax exemptions for startups up to 5 years, tax and contribution reductions up to 50 percent for employment in innovative activities, as well as 100 percent income tax exemptions for reinvestment in innovative projects and startups.” stated in the Ministry.
Source: Cafe del Montenegro