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TAX CALENDAR

New tool for the companies

TAX CALENDAR

The Ministry of Finance adopted a new measure that will help the private sector regarding the tax regulation, with a goal to ease the financial planning of the companies. 

The new tool is invented to contribute greater transparency and greater predictability in the process of adopting tax regulations. According to the publication the Ministry and State authorities shall announce all tax regulations changes for the following year in advance. This approach will help companies in the private sector to be able to plan their activities with greater efficiency during the year. 

Chamber of Commerce of North Macedonia has a large share in the adoption of this new tool, by requesting its implementation.  The grace period from the adoption of tax regulations to its implementation is one of the biggest advantages. This means that there will be a delay in the implementation of tax law amendments, with at least 6 months between the adoption until its implementation.  

Thus, the amendments that shall pass during the year, shall enter into force from January 1st  the following year, or, optionally, from June 1 during the following year, with the exception of above in case of tax incentives or if it is indicated that is necessary for other reasons, but with a predetermined, transparent and inclusive process.