Skopje, 2 January 2024 (MIA) - As of January 1, foreign entities that have no seat or subsidiary in North Macedonia but distribute goods and services subject to VAT must designate a tax agent, as per the recent amendments to the Law on Value Added Tax.

Any VAT-registered legal entity or individual at least 12 months prior to applying can be designated as tax agent. A requirement for legal entities is that they are not undergoing bankruptcy or liquidation proceedings, while individuals should not have a prior criminal record, the Public Revenue Office (PRO) said in a press release.

The tax agent will calculate the VAT based on documents provided by the foreign entity, submit quarterly VAT returns on behalf of the foreign entity, pay the tax and the interest if the foreign entity had failed to make the payment within the legal deadline, and keep records on tax transactions by the foreign entity.

MIA file photo