According to a recent release from the Government of Montenegro, the Cabinet has (re)approved the draft law for the ratification of the pending income tax treaty with Monaco. The treaty, signed 29 May 2019, is the first of its kind between the two countries and will enter into force 30 days after the ratification instruments are exchanged and generally apply from 1 January of the year following its entry into force. Note, the draft law was previously approved in October 2019, but reapproval was required due to the formation of a new cabinet in December 2020.