North Macedonia introduces one-time solidarity profit tax for FY 2023

27 September, 2023

In a recent announcement, the North Macedonian Public Revenue Administration has declared the enactment of one-time solidarity tax law, published in the Official Gazette on 25 September 2023. Key Details: Threshold: The one-time solidarity

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North Macedonia updates TP report submission requirements

27 September, 2023

On 25 September 2023, North Macedonia officially published amendments to the Profit Tax Law in Official Gazette No.199. According to the amendments, the requirement to submit transfer pricing reports is terminated with effect from 1 January 2024. As

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North Macedonia: Government proposes amendments to the tax law

26 July, 2023

The government of North Macedonia has re-submitted the draft amendments to the parliament related to the corporate income tax law, value-added tax (VAT) law, and draft law windfall profits tax. The drafts were initially submitted last year. The key

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North Macedonia: Government proposes windfall profits tax on fossil fuel sector

17 February, 2023

The government has presented a new proposal to the parliament for a temporary solidarity tax (windfall tax) on the fossil fuel industry. Under this proposal, the following key elements have been outlined: Taxable Entities: Companies with

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North Macedonia proposes amendments to TP reporting

12 January, 2023

Proposed amendments to the corporate income tax law regarding transfer pricing reporting would become effective from 1 January 2023. The proposed amendments include following changes: the requirement to submit a transfer pricing (TP) report to

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IMF: Report on the economy of North Macedonia

05 January, 2022

On 17 December 2021 the IMF published a report on the economy of North Macedonia following discussions under Article IV of the IMF’s articles of agreement. The economic impact of the pandemic has been mitigated by strong policy support which

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North Macedonia declares Fourth round of tax relief measures amid Covid-19 outbreak

09 October, 2020

On 24 September 2020, the Ministry of Finance has issued a release announcing the adoption of the fourth round of relief measures in response to the Covid-19 pandemic. The key tax measures are following: The reduction of interest rate

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North Macedonia: Exemption of advance profit tax payment extends to July 2020

12 July, 2020

North Macedonia has extended the exemption from advance tax to June and July 2020 for taxpayers in the fields of catering, tourism, and transport in response to Covid-19 pandemic. Primarily, the exemption was provided in respect of advance payments

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Belgium, Macedonia DTA enters into force

30 October, 2017

On 17 July 2017, the Double Taxation Agreement (DTA) between Belgium and Macedonia was entered into force and it will apply from 1 January 2018. From this date, the new treaty will replace the existing DTA of

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DTA between Macedonia (FYR) and UAE enters into force

20 February, 2017

The Income Tax Treaty of 2015 between Macedonia (FYR) and United Arab Emirates entered into force on 8th February 2017. The treaty will be applicable from 1st January

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India and Macedonia sign DTA

23 January, 2014

India has signed a Double Taxation Agreement (DTA) with Macedonia. The agreement provides a 10% withholding rate on dividends, interest and royalties in the source state. The treaty has a limitation of benefit article to ensure that treaty benefits

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India signs DTA with Macedonia to prevent income tax evasion

20 December, 2013

India signed a Double Taxation Avoidance Agreement (DTAA) with Macedonia on Dec 17, 2013,  to prevent income tax evasion by entities in both the countries, a move that is also expected to increase economic cooperation. The agreement provides

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TIEA between Argentina and Macedonia will enter into force

05 December, 2013

The government of Argentina and Macedonia signed a tax information exchange agreement on 26 April 2013. After completing necessary ratification procedures the agreement will enter into force on 17 December

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