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Macedonia

Company Formation and Related Services

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Paying Taxes in Macedonia

August 17, 2011, 4:39 pm
BridgeWest

1. What is the corporate tax in Macedonia?

A company registered in Macedonia is subject to a flat corporate tax rate of 10%, one of the lowest rates in Europe. The undistributed profits are not subject to taxation in Macedonia.

 

2. What is the VAT in Macedonia?

In Macedonia, the VAT rate is 18%.Only on a few goods, such as food, water, publications, seeds, agricultural machinery, fertilizers, computers, medical  equipment are subject to a 5% VAT. The obligation to register for VAT is for the companies which are in one of the below situations: a total turnover higher than 2.000.000 MKD was made in the previous year, it will be made in the current year or if there are predictions that will be made in the future.

3. How can the VAT be refunded in Macedonia?

Usually, the procedure for a VAT refund takes less than 30 days. You need to apply for a VAT refund at the Macedonian Revenue and Tax administration and provide all the documents required, particularly the invoices, custom documents, VAT certificate from the foreign company and an application signed by the company’s representative or if not, followed by a power of attorney granted to the third party which sign it.

4. What is the dividend tax in Macedonia?

Dividend tax in Macedonia is 10%.

5. Are there any incentives for foreign investors in Macedonia?

The entire tax system in Macedonia is quite a great incentive for foreign investors who want to set up a company here. The can benefit from a low corporate tax rate of 10% and even a 0% corporate tax on retained earnings. Besides, the system has been very careful as far as double taxation is regarded, so Macedonia signed several agreements in order to avoid these situations. Moreover, foreign investors who intend to establish a business in the technological–industrial development zones need to know that they will benefit from a corporate tax exemption for 10 years. It is also important to be reminded that Macedonia works with a flat tax system, which is also very attractive for foreign investments.

6. Why do I need a local accountant for my business in Macedonia?

As the accounting law states, annual accounts need to be prepared in accordance with local accounting rules. A local specialist that has some experience with the system will deal with the paperwork faster and in a more efficient way, so that your Macedonian business is kept on good hands as far as the legal aspects are concerned.




Open Business in Macedonia
We guarantee a cost-efficient solution for full company setup, bank account and VAT registration
Company Formation in Macedonia

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