Tuesday, January 02, 2007

Macedonia Imposes Flat Tax

Skopje. On Monday Macedonia imposes flat tax, the Macedonian MIA agency announces.
Flat tax, which is imposed in many European states, stipulates flat rate for corporation tax and income tax for natural persons.
The rate of the income tax for natural persons will be 12% from Monday. The rate of the corporation tax will be decreased from 15% to 12 %. The 12% rate will be in force till the end of 2007. The rates of the two taxes are planned to be 10% from Jan. 1st 2008. Levying flat tax is one of the Macedonian government’s steps for establishing good business conditions and attracting foreign investors.

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