The Parliament of Macedonia adopted THREE Tax Laws, the Law on Solidarity Tax, and amendments to the Law on VAT and the Law on Profit Tax

Tax laws today, September 19, 2023 (Tuesday) received support in the Parliament of Macedonia.

Amendments were adopted to:

The law on profit tax and
The law on value added tax, as well as
The Solidarity Tax Law.
With the amendments to the Value Added Tax Law, compliance with the EU Directive regarding the place of supply of services, introduction of the concept of a tax agent and regulation of the tax treatment of the supply through value vouchers has been carried out.

The application of the preferential rate of 5% for the first sale of residential buildings and apartments used for residential purposes within 5 years of construction has been extended.

The application of the preferential VAT rate has been revised, that is, the rate is reduced from 18% to 5% for the sale of menstrual products and the application of a preferential rate of 10% will start for some food products that were not a basic part of the diet.

Certain novelties are being introduced that will contribute to the simplification of the VAT collection procedure.

With the amendments to the Law on profit tax, the tax base is expanded and the administrative burden of companies is reduced by simplifying certain procedures of the profit tax system.

In addition to these two laws, the Law on Solidarity Tax was also adopted in the Parliament

This tax covers companies that had a turnover of more than 615 million denars in the last year, and will cover the part that represents an increase in profit by 20% compared to the average of the previous 3-year period.