20th October 2023, Skopje – Fight against informal economy will be strengthened by formalizing the coordination between the institutions, which are part of the National Council for Formalization Informal Economy. The inter-institutional body will soon hold its first session, while a preparatory meeting was held today in the Ministry of Finance between Minister of Finance, Fatmir Besimi, who will chair the Council, as well as the CEOs of the Public Revenue Administration, Sanja Lukarevska, the Customs Administration, Stefan Bogoev, the Financial Police Office, Goran Ivanov and the Financial Intelligence Office, Blazho Trendafilov. In addition to the coordination as regards the upcoming session, point of discussion also included the regulation of financial companies in line with the newly adopted legal framework in support of enhancing the consumers’ protection.
National Council for Formalization of Informal Economy comprises 20 members, high-level representatives from the institutions responsible for actions aimed at reducing informal economy. Decision to establish the National Council was adopted by the Government, which purpose is targeting the measures and the activities as per the 2023-2027 Strategy for Formalization of the Informal Economy and the Action Plan, resulting from the inter-sectoral cooperation, being based upon comprehensive approach when addressing the informal economy.
“Informal economy is one of the most pressing issues both for the economy and the society since informal economy implies a one-time gain for an individual at the expense of a long-term loss for the entire society. Tax evasion, unreported employment and other forms of avoiding tax payments are detrimental for all segments of the society – health, education, social affairs, and infrastructure development. Therefore, the system must be aimed at eradicating this irregularity, whereby sound coordination between the institutions in charge of the diverse systemic goals, is crucial in creating synergy throughout this fight”, Minister of Finance, Fatmir Besimi ponted out.
The medium-term target, i.e. until 2027, is for the informal economy to decrease by 9 percentage points owing to the undertaken activities.
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