5th January 2022, Skopje – During 2021, the country’s VAT refund to the business sector was by 22.8% more compared to 2020 and by 20.8% when compared to 2019. In other words, in the course of 2021, VAT refund to the companies in the Republic of North Macedonia, amounted to total of Denar 30 billion or EUR 488 million, being by Denar 5.6 billion (EUR 91 million) more compared to the previous year. In addition, some of the companies – taxpayers, used the system of netting with other taxes, which amounted to Denar 1.2 billion in the course of 2021, by which VAT refund totaled Denar 31.2 billion.
In absolute terms, VAT refunded in 2021 was higher compared to the previous years, when EUR 397.4 million was refunded in 2020, EUR 403.9 million in 2019, EUR 375.8 million in 2018, EUR 315 million in 2017 and EUR 280 million in 2016.
This is a substantial support for the companies, particularly in times of COVID-19-induced crisis, still affecting the economy in 2021, in need of this support, which was also extended via the six sets of anti-crisis measures.
In 2021, VAT was refunded timely and on continuous basis. Thus, the increased level of digitalization contributes, to a great extent, thereto, whereby the increase of the efficiency of the VAT refund process, for which activities are being currently undertaken, will be also enabled by its full automation.
VAT is refunded on regular basis and timely towards the domestic companies, thus boosting their liquidity and competitiveness.