FYR Macedonia: FYR Macedonia adds new product categories to the preferential VAT rate regime
With the latest amendments to the Law on VAT published in the Official Gazette on August 5 2014 and effective as of August 6 2014, the reduced VAT rate (5%) is now applicable to new categories of products that were previously subject to the regular VAT rate of 18%. These new categories include:
food additives for livestock food;
certain baby products (including cots, strollers, carriers, car seats, bathtubs, pacifiers, feeding bottles and diapers); and
school supplies (such as school backpacks, notebooks, pencils, pens, rulers, erasers and similar products).
A more detailed list of goods to which the reduced VAT rate has become applicable can be found in the Decision amending the Decision on Determining the Goods and Services subject to the preferential VAT rate. The reduced VAT rate of 5% is already applicable to a wide range of goods and services in FYR Macedonia including, among others, food products, medicine, publications, agricultural machines, the first sale of residential buildings and apartments as well as transportation and accommodation.
Elena Kostovska (email@example.com)
Eurofast Global, Skopje Office
Tel: +389 2 2400225