Extended VAT payment deadline in 2021 The North Macedonian Government has recently extended the payment deadline for VAT due following the filing of a periodic VAT return. Typically, the deadline for payment of outstanding VAT to the state has been…
In a procedure customary to the start of each new fiscal year, the Public Revenue Office of the Republic of North Macedonia has revised the minimum and maximum amounts used for the payment of mandatory social security contributions. Although the…
Effective 1 January 2021, the North Macedonian VAT regime has been amended to include a new tax rate of 10%, in addition to the previously prescribed standard rate of 18% and reduced rate of 5%. This is the first time…
North Macedonia became the 117th member to join the Inclusive Framework (“IF”) for the global implementation of the Base Erosion and Profit Shifting (BEPS) Project in August 2018. Under this framework, North Macedonia was committed to implement Action 5, Action…
100 years after the Spanish flu, a new pandemic strikes the world, impeding free movement, considerably slowing down the world economy as well as seriously restricting the rights of the population. We are living in unprecedent times. It is becoming…
Increase of social security contribution rates Employees in North Macedonia have been witnessing a steady trend of increasing social security contribution rates in recent years. The Government is constantly trying to ensure more stable revenues to the Pension and Disability…
The North Macedonia Parliament adopted the amended Law on Minimum Salary on 14th of November 2019. The increase of the minimum net wage to 14,500 MKD represents an almost 14% jump, compared to the previous minimum net wage which amounted…
The Ministry of Finance of North Macedonia has announced an increase of the VAT-registration taxable turnover threshold from MKD 1 million to MKD 2 million per year. The changes in the threshold amount have varied throughout the last 20 years,…
The newly adopted (June 27, 2019) and published (Official Gazette No.133/28-06-2019) Law on Partial VAT Refund to Physical Persons has been met with both enthusiasm and a myriad of questions from individuals. The Law – for the first time in…