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Dec 19, 2022 11:44 EEST
December 19 (SeeNews) - North Macedonia's parliament decided to postpone the planned introduction of a progressive tax rate on personal incomes which was set to take effect on January 1 and the introduction of a tax on deposits interest, the finance ministry said.
The existing flat personal income tax of 10% will remain in force, the ministry said in a press release on Friday.
No date was set for the introduction of the progressive tax, while the tax on deposits interest will enter into force upon the country's accession to the EU, according to the press release.
North Macedonia introduced progressive taxation of citizens' income in January 2019, but a year later the government decided to switch to a flat rate for the following three years citing tax avoidance and only a minor improvement in inequality of income distribution.
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