Inheritance tax and inheritance law in Montenegro
September 30, 2011
Individuals who inherit property are liable to pay inheritance tax levied at 3%. The tax is levied on the market value of the inherited property less debts and expenses related to the inherited property. No personal allowances are granted.
The following beneficiaries are exempt from inheritance tax:
- A person related in the first degree, i.e. direct descendants, spouses and parents.
- A farmer receiving agricultural land if he is related in the second degree and has lived in the same household with the deceased for a period stated by the law.
- A person receiving a dwelling if he is related in the second degree and has lived in the same household with the deceased during the last year.