FYR Macedonia/December 2015
In the last six months, the Government of FYR Macedonia has done considerable progress on extending its double tax treaty network.
During the first half of June 2015, negotiations with Hong Kong officials commenced, aimed at signing a treaty for the avoidance of double taxation. The first negotiation round was concluded on June 12, 2015. Similarly, FYR Macedonia has also started treaty negotiations with Bangladesh during October 2015.
Following two years of formal negotiations, FYR Macedonia finally concluded a tax treaty with the United Arab Emirates. The treaty was signed by officials from both countries in Dubai on October 26, 2015 but details of its contents are still pending publication by authorities.
The DTT signed with Israel is the latest one which the FYR Macedonian Government has concluded after lengthy negotiations. The treaty was signed on December 9, 2015, several months after the 20th anniversary of the establishment of diplomatic relations between the two countries.
The FYR Macedonian network of double tax treaties currently includes effective agreements with 48 countries, some of which provide for very attractive withholding tax rates, including a few with zero-rated tax rates for distribution of dividends and interest payments.
Elena Kostovska
Eurofast Global, Skopje Office
Tel: +389 2 2400 225Email: elena.kostovska@eurofast.eu