| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 15.70 |
Revenue Administration Reform Project
Abstract*
The development objective of Revenue Administration Reform Project is to improve the effectiveness of operational functions of Montenegro’s Tax Administration (MTA) and to reduce the compliance costs for corporate taxpayers. This project has three components. 1) The first component, Institutional Development, aims to help enhance the strategic focus of management, increase attention to integrity, strengthen staff management and training, develop the... Show More
Development Objective
The development objective of the project is to improve the effectiveness of operational functions of Montenegro’s tax administration and to reduce the compliance costs for corporate taxpayers.
The project supports Montenegro’s long-term vision of a revenue administration that operates with streamlined risk-based business processes that contribute to the efficient collection of taxes and social contributions from all sources of economic activity. Increased compliance will generate a more robust revenue stream to provide essential services to citizens. Improvements in revenue administration capacity will also support the country's goal for EU accession and economic integration with EU member states.
Key Details
Project Details
P149743
Active
Srdjan Svircev
Ministry of Finance
September 24, 2014
(as of board presentation)
July 31, 2017
March 13, 2018
US$ 15.70 million
Montenegro Tax Administration
2018
US$ 15.70 million
C
June 25, 2024
September 30, 2025
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 15.70 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 15.70 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 15.70 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Feb 24, 2021 | IBRD-90130 | Loan Disb | 3,009,526.20 |
| May 24, 2021 | IBRD-87720 | Loan Disb | 187,660.48 |
| May 24, 2021 | IBRD-90130 | Loan Disb | 1,098,962.00 |
| May 24, 2021 | IBRD-90130 | Loan Disb | 28,290.54 |
| Aug 15, 2021 | IBRD-87720 | Int Charges | 18,404.28 |
| Aug 15, 2021 | IBRD-87720 | Int Charges | 4,271.98 |
| Aug 15, 2021 | IBRD-90130 | Int Charges | 1,549.22 |
| Aug 15, 2021 | IBRD-90130 | Int Charges | 9,490.69 |
| Feb 15, 2022 | IBRD-90130 | Int Charges | 630.41 |
| Feb 15, 2022 | IBRD-87720 | Int Charges | 17,948.62 |
| Feb 15, 2022 | IBRD-90130 | Int Charges | 10,617.11 |
| Feb 15, 2022 | IBRD-87720 | Int Charges | 4,365.58 |
| Aug 15, 2022 | IBRD-87720 | Int Charges | 4,382.06 |
| Aug 15, 2022 | IBRD-87720 | Int Charges | 15,878.86 |
| Aug 15, 2022 | IBRD-87720 | Loan Repay | 36,930.83 |
| Aug 15, 2022 | IBRD-90130 | Int Charges | 213.87 |
| Aug 15, 2022 | IBRD-90130 | Int Charges | 11,641.59 |
| Mar 4, 2022 | IBRD-90130 | Loan Disb | 329,280.00 |
| Sep 23, 2022 | IBRD-87720 | Loan Disb | 204,925.23 |
| Sep 23, 2022 | IBRD-87720 | Loan Disb | 65,994.93 |
| Sep 23, 2022 | IBRD-87720 | Loan Disb | 600,381.90 |
| Feb 15, 2023 | IBRD-87720 | Int Charges | 15,993.67 |
| Feb 15, 2023 | IBRD-87720 | Int Charges | 20,963.13 |
| Feb 15, 2023 | IBRD-87720 | Loan Repay | 63,264.60 |
| Feb 15, 2023 | IBRD-90130 | Int Charges | 190.16 |
| Feb 15, 2023 | IBRD-90130 | Int Charges | 43,615.98 |
| Oct 10, 2019 | IBRD-90130 | Loan Commitment | 5,200,000.00 |
| Jul 31, 2017 | IBRD-87720 | Loan Commitment | 15,700,000.00 |
| Mar 13, 2018 | IBRD-87720 | Loan Disb | 43,155.00 |
| Mar 13, 2018 | IBRD-87720 | Fee Charges | 43,155.00 |
| Apr 24, 2018 | IBRD-87720 | Loan Disb | 610,475.00 |
| Aug 15, 2018 | IBRD-87720 | Int Charges | 15,585.49 |
| Aug 15, 2018 | IBRD-87720 | Int Charges | 1,499.19 |
| Feb 15, 2019 | IBRD-87720 | Int Charges | 19,128.96 |
| Feb 15, 2019 | IBRD-87720 | Int Charges | 2,404.27 |
| Mar 27, 2019 | IBRD-87720 | Loan Disb | 124,879.29 |
| Aug 15, 2019 | IBRD-87720 | Int Charges | 18,500.01 |
| Aug 15, 2019 | IBRD-87720 | Int Charges | 2,856.91 |
| Nov 20, 2019 | IBRD-90130 | Loan Disb | 13,267.80 |
| Nov 20, 2019 | IBRD-90130 | Fee Charges | 13,267.80 |
| Feb 15, 2020 | IBRD-90130 | Int Charges | 19.17 |
| Feb 15, 2020 | IBRD-90130 | Int Charges | 1,275.99 |
| Feb 15, 2020 | IBRD-87720 | Int Charges | 18,164.59 |
| Feb 15, 2020 | IBRD-87720 | Int Charges | 2,324.93 |
| Dec 17, 2019 | IBRD-87720 | Loan Disb | 157,694.55 |
| Apr 17, 2020 | IBRD-87720 | Loan Disb | 135,806.36 |
| Feb 26, 2020 | IBRD-90130 | Loan Disb | 544,225.00 |
| Jun 4, 2020 | IBRD-87720 | Loan Disb | 382,161.53 |
| Jul 30, 2020 | IBRD-87720 | Loan Disb | 47,745.34 |
| Aug 15, 2020 | IBRD-87720 | Int Charges | 68.42 |
| Aug 15, 2020 | IBRD-87720 | Int Charges | 112.33 |
| Aug 15, 2020 | IBRD-87720 | Int Charges | 19,073.61 |
| Aug 15, 2020 | IBRD-87720 | Int Charges | 4,138.41 |
| Aug 15, 2020 | IBRD-90130 | Int Charges | 6,285.23 |
| Aug 15, 2020 | IBRD-90130 | Int Charges | 1,697.06 |
| Jul 31, 2020 | IBRD-90130 | Loan Disb | 533,127.94 |
| Feb 15, 2021 | IBRD-90130 | Int Charges | 55.92 |
| Feb 15, 2021 | IBRD-90130 | Int Charges | 78.26 |
| Aug 15, 2023 | IBRD-90130 | Int Charges | 190.96 |
| Aug 15, 2023 | IBRD-90130 | Int Charges | 103,732.43 |
| Aug 15, 2023 | IBRD-87720 | Int Charges | 15,265.62 |
| Aug 15, 2023 | IBRD-87720 | Int Charges | 60,295.24 |
| Aug 15, 2023 | IBRD-87720 | Loan Repay | 93,819.83 |
| Jun 5, 2023 | IBRD-87720 | Loan Disb | 908,775.10 |
| Jun 7, 2023 | IBRD-87720 | Loan Disb | 178,802.30 |
| Nov 8, 2023 | IBRD-87720 | Loan Disb | 720,265.90 |
| Nov 8, 2023 | IBRD-87720 | Loan Disb | 119,529.76 |
| Aug 15, 2024 | IBRD-87720 | Int Charges | 13,289.11 |
| Aug 15, 2024 | IBRD-87720 | Int Charges | 109,859.14 |
| Aug 15, 2024 | IBRD-87720 | Loan Repay | 128,627.29 |
| Aug 15, 2024 | IBRD-90130 | Int Charges | 192.83 |
| Aug 15, 2024 | IBRD-90130 | Int Charges | 125,264.34 |
| Aug 15, 2024 | IBRD-90130 | Loan Repay | 128,248.26 |
| May 31, 2024 | IBRD-87720 | Loan Disb | 381,703.00 |
| Feb 15, 2024 | IBRD-87720 | Int Charges | 13,817.56 |
| Feb 15, 2024 | IBRD-87720 | Loan Repay | 114,920.67 |
| Feb 15, 2024 | IBRD-87720 | Int Charges | 98,377.27 |
| Feb 15, 2024 | IBRD-90130 | Int Charges | 190.48 |
| Feb 15, 2024 | IBRD-90130 | Int Charges | 124,761.92 |
| Feb 15, 2021 | IBRD-90130 | Int Charges | 5,856.71 |
| Feb 15, 2021 | IBRD-87720 | Int Charges | 5.39 |
| Feb 15, 2021 | IBRD-87720 | Int Charges | 9.74 |
| Feb 15, 2021 | IBRD-87720 | Int Charges | 19,388.46 |
| Feb 15, 2021 | IBRD-87720 | Int Charges | 4,975.40 |
| Feb 15, 2021 | IBRD-90130 | Int Charges | 3,101.73 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Procurement | Satisfactory | 2024-06-28 |
| Financial Management | Satisfactory | 2024-06-28 |
| Project Management | Moderately Satisfactory | 2024-06-28 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2024-06-28 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-06-28 |
| Monitoring and Evaluation | Moderately Unsatisfactory | 2024-06-28 |
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: |
|---|---|
| Outcomes | |
| Risk to Development Outcome | |
| Bank Performance | |
| Borrower Performance | |
| Government Performance | |
| Implementing Agency |
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Tax Gap for VAT Value No methodology for Tax Gap for VAT estimation -Training was organized for the MTA employees to u 3% reduction in Tax Gap for VAT compared to value Date April 1, 2016 June 24, 2021 December 31, 2021 Comment Time it takes to pay taxes and social contributions Value 314.00 300.00 250.00 Date December 31, 2015 June 24, 2021 December 31, 2021 Comment Percentage of tax returns filed on time Value VAT: 82; CIT: 89 VAT: 84.12% (CY 2020), 88.01% (first 5 months of C VAT: 90; CIT: 94 Date December 31, 2016 June 24, 2021 December 31, 2021 Comment Achieved processing of almost 90% of VAT refund claims within 30 days for predominantly exporters and 60 days for the rest of the taxpayers according to domestic law Value Exporters: 70%; Rest: 65% Lower than 2019 and the target values for 2020 due Exporters: 85%; Rest: 80% Date December 31, 2018 June 24, 2021 December 31, 2021 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
MTA staff satisfaction with the new skills and ability to apply them, disaggregated by gender Value No baseline No change from previous - 68% of MTA staff respond Increase by 7% compared to baseline established in Date December 31, 2016 June 24, 2021 December 31, 2021 Comment Payment compliance rate for VAT Value 62.00 75.00 84.00 Date December 31, 2016 June 24, 2021 December 31, 2021 Comment Taxpayers satisfaction with MTA's quality of taxpayers services and integrity of MTA staff, disaggregated by gender Value No baseline Follow-up survey to be launched in July 2021.That Increase by 7% compared to baseline established in Date December 31, 2016 June 24, 2021 December 31, 2021 Comment Improved post filing index Value 70.49 No change from previous - 70.5 - no follow-up publ increased by 6% from baseline Date December 31, 2018 June 24, 2021 December 31, 2021 Comment Estimated tax gap is calculated annually and suitable for publication by year 5 Value No Yes.Follow-up exercise initiated to conduct tax Yes Date March 31, 2016 June 24, 2021 December 31, 2021 Comment Payment compliance rate for CIT Value 81.00 80.00 91.00 Date December 31, 2016 June 24, 2021 December 31, 2021 Comment Increased e-filing for VAT Value 75.00 90.24 90.00 Date December 31, 2018 June 24, 2021 December 31, 2021 Comment Real-time information for VAT transactions available to MTA Value no real time EFI system in place Achieved - EFI system available 99.5% of the time EFI System available 99.5% of the time for all cas Date December 31, 2018 June 24, 2021 December 31, 2021 Comment Improved selection of taxpayers for audit so that comprehensive audits are centrally selected from the risk analysis system Value no comprehensive audit centrally selected from ris 20% above the target of 15% for 2020 60% of comprehensive audits centrally selected fro Date December 31, 2018 June 24, 2021 December 31, 2021 Comment