Government: Amendments to VAT and Excise Laws Sent to Parliament

The Government of the Republic of North Macedonia sent to the Parliament the amendments to the Law on Value Added Tax and the Law on Excises. The letter from the Government states that these amendments should be adopted in an urgent parliamentary procedure to ensure reduction of the highest retail prices of gasoline and other petroleum products. These Laws refer to several measures such as the measure to reduce the preferential VAT rate for basic human food products from 5% to 0%. The basic products to which this measure will apply are bread, sugar, flour – type 400, sunflower edible oil, milk, fresh meat, rice and eggs. Measures to reduce the VAT rate from 18% to 10% on energy sales and to exempt from paying VAT on energy imports are also included, as well as the measure to reduce the excise tax in accordance with stock exchange prices.