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Atlas Group: Mugosa does not understand that the tax is paid on commission and not on the general turnover

"The complete business documentation on e-commerce was delivered during the exploration procedure conducted by the SDT," say Atlas.

In connection with today's statement by the tax director of the tax administration, Miomir M. Mugosh, that over 30 million euros of tax was evaded through the electronic trading service of Atlas Bank, Atlas Group makes the following statement to the public:

"Not a single euro could be avoided, neither Mr. Mugosa nor the Special Public Prosecutor obviously understand the basic financial operations and do not distinguish between the basic economic concepts." For each commission a tax was paid through Atlas Bank. “It seems that the problem is that Mugosa does not know the head of the tax administration says that the tax is paid for commissions, and not from the general turnover. Mr. Mugoshi is trying to get closer to the topic – Atlas banka's e-commerce service allows a company that sells goods via the Internet to sell its products and set a price. which he indicated on his website. He sells the money to him, and the agreed transaction fee is charged by the bank.

Since Western Union charges a fee for money transfer and pays only the amount of the maintenance fee, Atlas Bank works for the e-commerce service. All according to the laws and
international standards, which was noted in each control of the Central Bank of Montenegro. Over the past 10 years, inspections by the tax administration have shown that things are going right, but we see that now it is changing under pressure from the Special Prosecutor.

Full e-commerce business documentation was presented in a survey conducted by the SDT. Our tax authorities incorrectly identify receipts to accounts of a domestic company with revenue. resources
which are received on their accounts do not represent their income, but it is the income of a foreign company. Turnover through domestic companies cannot be taxed, just as taxable traffic cannot be generated through Montenegro Post for money laundering services or similar payment institutions that receive third party accounts for their accounts. In these institutions, only income derived from the service of receiving and / or sending money is taxable.

The bank has undergone the whole procedure and is only an intermediary between Visa International and Master Card card associations, and the problem of tax evasion and money laundering cannot be related to the bank’s activities. If Visa International and Master Card are suspected of money laundering, it may be Atlas Bank. Considering that 3 more banks in Montenegro provide e-commerce services, one of which is Hipotekarna, which works on an identical e-commerce model only to a lesser extent, we invite the competent authorities to publish the results of checks made by these clients from a tax point of view, as well as from aspect of the SDT study.

Mr. Mugosa must know that it doesn’t look good like an octopus tent and Katnich's extended arm. When all this ends, he will live in Montenegro and face the consequences of his activities. Instead of protecting the master, even when no one in the DPS does, he does. Mugosh is recommended to take care of themselves and their profession. "

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