Combating Grey Economy Committee: Determined to fight illegal business

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    The Combating Grey Economy Committee held earlier today constituent session, chaired by Minister of Finance and President of that Body Darko Radunović. Combating and eliminating all forms of grey economy through decisive measures and enhanced coordination of all competent state authorities in order to implement a complete fiscal discipline will be priority activity of the field services… Combating Grey Economy Committee: Determined to fight illegal business

    The Combating Grey Economy Committee held earlier today constituent session, chaired by Minister of Finance and President of that Body Darko Radunović. Combating and eliminating all forms of grey economy through decisive measures and enhanced coordination of all competent state authorities in order to implement a complete fiscal discipline will be priority activity of the field services.

    Bearing in mind that the experience of the Committee has shown that the measures taken so far to detect the misdemeanor and the imposition of misdemeanor penalties have not sufficiently effected the reduction of the grey economy, it was decided that the focus of future activities of the competent authorities, apart from removing irregularities, would be on the instruments such as ban on performing activities, seizure of assets and other measures that will prevent illegal activities.

    Special attention of customs, tax and inspection services will be directed to suppressing grey business activity that is noticeable in the tourist season, but the competent authorities will be fully committed to the successful implementation of the measures defined by the Government Fiscal Strategy, which regulates the area of tax and excise policies.

    The Committee will base its work on a unique commitment – a zero tolerance rate for the grey economy, while respecting the principles of non-selectivity and full transparency, in order to curb informal economy and unfair competition that undermines both the real sector and the State.

    Source: Government of Montenegro