Eurofast Global consulting company organized seminar in Podgorica on International Double Taxation and Property Transfer

Eurofast Global organized a seminar on “International Double Taxation and Property Transfer”, on June 21st, 2011, in Hotel Podgorica, Montenegro.

The event targeted professionals from financial institutions, real estate developers, investors and businessmen from Montenegro. The seminar covered international Double Tax Treaties (DTT) Montenegro has signed and implemented. Thus far Montenegro has signed DTT’s with 36 countries, including Cyprus, while signing an agreement with Austria, Serbia, Greece, Belgium, Russia, Spain and San Marino have been initiated. Agreements with Ireland and UAE have been signed and will be both adopted by local parliaments.

Ms. Krivokapic , representative from the Ministry of Finance updated in detail the participants on various DTT’s Montenegro signed in the past as well as on up to date initiated agreement negotiations. Ms. Krivokapic pointed out that the Montenegrin Ministry of Finance is open for new suggestions and invited the participants to suggest between which countries there is a need for signing a DTT.

The seminar was addressed by the Executive Chairman of Eurofast Global and Honorary Consul of Montenegro in Cyprus, Mr. Christodoulos Damianou, who stressed the importance of the business relation between Montenegro and Cyprus and the vast business opportunities which are available to help flourish the development of both countries.

Furthermore, Mr. Slobodan Mihajlovic, Director of Western Balkans at Eurofast Global, presented the recently signed Double Tax Treaty between Russia and Cyprus. Mr. Mihajlovic pointed out that the determination of residency for legal and physical entities is the crucial moment. He explained several ways on how to use the articles from DTT’s properly, based on various examples form his professional experience.