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Dec 02, 2022 11:09 EEST
December 2 (SeeNews) - North Macedonia's government on Thursday presented a new tax reform concept designed to ensure stable incomes, economic growth and better services for citizens.
No new taxes or hikes of existing taxes are envisaged in the tax reform concept, the government said in a press release.
The main goal of the new tax concept entails revising tax exemptions, expanding the tax base and in the end suppressing the informal economy, the government noted.
The existing flat personal income tax of 10% will remain in force. A progressive taxation system that was set to take effect as of January 1, 2023, will not be introduced.
The new tax reform scheme falls under the umbrella of the previously established Tax System Reform Strategy, which outlines the priorities for tax policy and tax administration. The strategy ensures that the tax authorities in the country behave in an efficient, coordinated and consistent manner towards achieving a common goal: inclusive and sustainable economic growth.
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