North Macedonia Assembly Considers Bill to Amend Various VAT Provisions

The North Macedonian Assembly (Sobranie) June 13 accepted for consideration Bill No. 08-3224/1/2023, to amend VAT provisions to allow adjustments for disasters, war, states of emergency, and increased energy prices. The bill includes measures that would: 1) reduce the VAT rate for residential electricity to the 5 percent preferential rate, from the current 10 percent preferential rate, effective July 1 and until Dec. 31, in lieu of reverting to the 18 percent general rate; 2) exempt VAT on products for human consumption, such as basic food products, until Dec. 31; and 3) allow the government to determine what products are ...