Government to Reduce VAT on Oil Derivatives Market from 18% to 10%

In order to prevent a drastic jump in fuel prices at gas stations in the country, the Government passed a package of measures at an extraordinary session on Sunday.

After the session, PM Mickoski said there would be an intervention on the oil derivatives market through a VAT reduction from 18% to 10%. As he explained, as a result of the measure, gas prices are expected to remain almost unchanged, while that of diesel will increase by about 3 to 3.5 denars per liter, instead of more than 10 denars.

According to estimates, citizens would save around 200,000 euros a day, or approximately 1.5 million euros a week with these measures. SDSM leader Filipche said it was a very belated measure, adding that his party’s bills and draft measures should be accepted.