The FYR Macedonian Parliament adopted the amended Law on Minimum Salary on September 18, 2017. The previously-valid net minimum salary of MKD 10,080 has been increased to MKD 12,000. The amounts apply to full time employment.
The amendment affects a number of companies whose employees have been receiving the bare minimum salary. For the purpose of easier transition in the period September 2017-February 2018, the Government has introduced incentives for affected companies that fulfill the following criteria:
- Are not in liquidation or bankruptcy procedures
- Have recorded losses in the fiscal 2016 or net profit lower than 10% of their total 2016 expenses
- Enjoy no exemptions for social security contribution or personal income tax payments
- Have no outstanding balances for net salaries, contributions or taxes for the period (month) for which a financial incentive has been requested.
Companies that fulfil the above criteria are eligible for a financial incentive for each employee, the amount of which depends on the salary of the employee. The incentive amounts will be transferred to the companies after they settle their monthly salary obligations.
Your contact for further queries is: Elena Kostovska Eurofast Global, Skopje Office E: email@example.com T: +389 2 2400225
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