Skopje, 21st November 2014 (MIA) – Republic of Macedonia has the lowest tax rate in the world according to the Paying Taxes 2015 Report. It is ranked 7th, with a tax rate of 7.4 percentage, among total of 189 countries.
Republic of Macedonia has again kept its first place this year, by further reducing the tax rate from 8.2% to 7.4%.
Time to comply in Macedonia is 199 hours, being the shortest period of time compared to the countries in Central Asia and East Europe.
As regards the number of payments, Macedonia is ranked 6th among the countries in Central Asia and East Europe.
Macedonia has reduced its payments to just seven from 29 last year.
The Report indicates that such reduction is due to a mandatory electronic system for VAT filing and payment and increased use of electronic systems for corporate income tax.