Skopje, 28 March 2024 (MIA) – The Council of Foreign Investors of the Economic Chamber of North Macedonia has been analyzing the effects of the 15% minimum global tax, in force globally since January 1, on the activities of the foreign companies in the country, which should pay an additional tax in the countries they originate from. The country is yet to adjust to this tax. The foreign companies should pay this year’s minimum global tax in 2026. 

A presentation on the effects of the minimum global tax on the profits of the companies in North Macedonia took place Thursday for the members of the Council at the Economic Chamber, in cooperation with PwC North Macedonia. 

Viktor Mizo, President of the Council of Foreign Investors, said he expects ideas and proposals to be put forward before the policy creators after the spring elections on how to adjust to the new tax. 

“The Council of Foreign Investors together with PwC has organized a discussion on how the 15% minimum global tax, adopted by an initiative of OECD and accepted by the country two years ago, will affect the major multinational companies working in the country that have a consolidated profits of over 750 million euros and how it will affect taxation,” stated Mizo. 

According to him, the Council last year had raised the issue with the government’s economic team and was told that they would be some kind of a transitional period before the country would introduce the tax.

However, he noted, the tax was introduced globally on Jan. 1 this year. 

“Many companies, whether they operate in the industrial zones or not, whether they receive state aid or not, will have to thoroughly consider all the effects,” Mizo said adding that more than 50 companies, many from North America and Europe, might be affected.

After the elections, in the autumn, Mizo stated, we need to speak with the policy creators to see how the country will adapt to the novel measure. 

Miroslav Mirchev of PwC North Macedonia said they will present the complex rules to the companies in order to prepare them for their implementation.

“Within the discussion I expect to see views on what can be done as regards the final aspects, with the economic policy – every company should consider the implications on its own before deciding what to do, together with others or on its own, whether it wants to speak to someone or whether it only wants to be prepared for the payment,” said Mirchev. 

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