2nd March 2021, Skopje – “Customs Tariff to be aimed at boosting the competitiveness of companies, Tax Calendar, which will provide for greater tax predictability and the Fund for Support of Export-Oriented Companies to be established through the Development Bank, are only some of the measures, being undertaken in consultation with the chambers of commerce, all to the end of boosting liquidity of companies and contributing to intensified economic growth”, Minister of Finance, Fatmir Besimi said at the meeting with the President of the Economic Chamber of Macedonia, Branko Azeski and the companies – members of the Chamber, which was also attended by Deputy Prime Minister Fatmir Bitiqi.
President of the Economic Chamber of Macedonia Azeski stressed that the Customs Tariff, reduction of parafiscal charges and introduction of a holding, as a new form of legal entity, were the three requests by the Economic Chamber of Macedonia. Economic Chamber of Macedonia representatives welcomed the new measure under the fifth set of measures, aimed at establishing a Fund for Support of Export-Oriented Companies, under which large companies are also supported thereby.
This Fund, which will be established through the Development Bank, will provide for extending support to export-oriented medium-sized and large companies, in the form of loans with favourable interest rates and under favourable terms and conditions.
According to the envisaged dynamics, the initial Draft Law on Customs Tariff is expected by the end of March or the first half of next month at the latest. In this respect, harmonization with the EU Combined Nomenclature and the numerical indicators is to be carried out, whereby the demands of investors as regards the harmonization of customs tariffs will also be met- Minister Besimi pointed out.
When harmonizing the customs tariffs, Ministry of Finance, as he stressed, would place the focus on boosting the competitiveness of companies and increasing both the economic growth and the employment rather than on the revenues, which are to be generated on the basis of customs duties.
Harmonization with the EU customs tariffs is a requirement, which should be fulfilled upon accessing the EU. At present, as Minister pointed out, in cooperation with the chambers of commerce, the most appropriate package would be designed, pertaining to customs duties, whereby the nomenclature (system of designations of the goods, system of numerical marking, unit prices, as well as the appropriate notes thereto) would be harmonized with the EU Combined Nomenclature.
The respective Tax Calendar has been shared with the chambers of commerce, and upon the harmonization therewith, it will be published on the website of the Ministry of Finance.
Minister pointed out that the request of chambers of commerce was accepted, pertaining to amendments to the Law on Profit Tax, as regards the increase in the threshold for profit tax on vacation allowance from 40% to 80%. At the same time, the request for amending the Law on Value Added Tax was also accepted, pertaining to voluntary registration for VAT purposes, which could be carried out throughout the year.
Deputy Prime Minister Fatmir Bitiqi underlined that the Government remains committed to transparent operations and raising all necessary issues.