North Macedonia MOF Announces Various Tax Relief Measures Due to Coronavirus

The North Macedonian Ministry of Finance Sept. 28 announced various tax relief measures due to the coronavirus pandemic. The announcement includes measures that would: 1) reduce the VAT rate on restaurant and catering services to 10 percent from 18 percent; 2) extend the corporate income tax advance payment deferral to March 2021 for companies with revenue declines exceeding 40 percent; 3) allow companies to defer VAT payments without interest; 4) allow companies to carry losses forward against future profits; 5) allow companies having income between 5 million Macedonian denars (US$94,836) and 10 million denars (US$189,671) their choice between two tax ...