A tax haven
The tax system in former Jugoslav Republic of Macedonia has undergone a radical overhaul in the last 10 years. Now considered a tax haven in Europe, former Jugoslav Republic of Macedonia has implemented a flat tax rate that has seen progressive cuts. Combined with low VAT and a number of policies to encourage reinvestment, business development opportunities in the country are increasing rapidly.
Reforms of the economy have been at the forefront of the Government’s policies, with the introduction of a flat tax system in 2007. In addition, the country has introduced a number of significant changes to the tax system such as significant reductions to corporate and personal income tax, special tax reductions and exemptions which specifically target businesses looking to invest in the former Jugoslav Republic of Macedonia and attractive fiscal benefits for Technological Industrial Development Zones.
The tax system includes three types of taxes: income taxes (Profit tax and Personal Income Tax), consumption taxes (Value Added Tax, Excises and Customs) and property taxes. The state administration body responsible for collection of public revenues is the Public Revenue Office. All information regarding the tax system can be found on the following link: http://www.ujp.gov.mk/en