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April 2, 2003 - Wednesday |
Introduction of VAT cannot trigger off inflation in Montenegro, Director of Public Revenue Directorate
PODGORICA - Director of Montenegro's Public Revenue Directorate Predrag Markovic said on Wednesday that the introduction of the value added tax (VAT) on April 1 cannot trigger off inflation in Montenegro, but he did not rule out a possibility of having idnividual attempts by producers to increase prices of some products.
Markovic said in a statement published by the Podgorica daily Pobjeda that the increase of the electricity price in Montenegro is justified, because it fully corresponds to the implementation of the Law on value added taxes, but he underlined that "there is no calculation that could prove that the price of bread should be increased by 30 percent".
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