Salary of more than EUR 4,300 Received by 349 Citizens

By , 21 Aug 2019, 13:36 PM Business
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During the last year, the return of surplus paid contributions for compulsory social insurance was executed for 349 individuals, said the Tax Administration. In 2017, these individuals earned annual gross earnings of more than 52.308, or 4.359 euros per month.

“Bearing in mind that contributions for compulsory social insurance are paid to the amount of earnings calculated by the employer or payer, regardless of whether that amount exceeds the highest annual basis for calculating contributions, to persons who have been paid contributions from the base exceeding the amount of most annually the basics for the calendar year are entitled to a return of surplus contributions paid," as stated from the Tax Administration (TA) .

Representatives of TA pointed out that when it comes to personal income tax, personal income is taxable on this basis in accordance with the Law on Personal Income Tax regardless of the amount of income.

"In accordance with the Rulebook on Reconciliation of the Amount of the Highest Annual Contribution Base, the highest annual Contribution Base for 2017 was EUR 52.308, and last year EUR 53.302," the representatives of the TA stated.

They explained that the area of calculation of compulsory social insurance contributions is governed by the Law on Compulsory Social insurance Contributions and the Rulebook on adjustment of the amount of the highest annual basis for paying the contributions.

“The law and the ordinance prescribe the highest annual gross basis for calculation, not the amount of monthly income on which social insurance contributions are paid, whereby the highest base for calculation is adjusted annually according to the trend of average earnings in Montenegro in the previous calendar year, and according to the data of the administrative authorities responsible for statistics, ”explained the representatives of the TA.

According to Monstat, the average monthly gross earning last year was 766 euros, or 9.192 euros annually. Whereas in 2017, the average monthly gross earnings was EUR 765, or EUR 9.180 annually. The minimum wage in Montenegro was 193 euros until July 1 and has now been increased to 222 euros. Minister of Labor and Social Welfare Kemal Purisic said in May this year that 12 thousand employees in Montenegro received a minimum of EUR 193 and another 42 to 45 thousand employees had a salary between EUR 193 and 222.

Text by Pobjeda, on August 21st, 2019, read more at CdM

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