The state maintains that it has not violated the tenets of the Federal Credit Union Act of 1934, which stipulates that credit unions "shall be exempt from all taxation," except on real and tangible personal property.
There is, though, a get-out clause stating that any ground that approved for international cricket before October 2007, or one under construction, which does not conform, shall be exempt.
The same applies to nearly all United Nations employees – article 34 of the Vienna convention on diplomatic relations of 1961, which has been signed by 187 states, declares: "A diplomatic agent shall be exempt from all dues and taxes, personal or real, national, regional or municipal".
Exchanges of currency by the Board shall be exempt from taxation by the Montenegrin governments.
Charter schools must submit governance guidelines, but according to the law "charter school shall be exempt from all other state and local laws, rules, regulations or policies governing public or private schools, boards of education and school districts, including those relating to school personnel and students, except as specifically provided in the school's charter or in this article".
The assets, income and other property of FAO shall be exempt: from any form of direct taxation.
