• Tuesday, 24 December 2024

Progressive taxation remains open, EUR 54 million to be collected from profit and personal income tax

Progressive taxation remains open, EUR 54 million to be collected from profit and personal income tax
Skopje, 8 August 2022 (MIA) – Progressive taxation remains an open issue that is to be discussed in the coming period. The draft-tax reform does not include a specific proposal in order to leave room for debate and the most appropriate solution. The tax reform will be implemented in stages, first in the section of the profit tax, personal income tax and VAT, with EUR 54 million expected from the collection of profit and personal income tax. The draft-tax reform also proposes the taxation of deposit interest rates by ten percent, annulment of tax exemption by way of reinvested profit and payment of health and retirement insurance for part-time workers. Finance Minister Fatmir Besimi told Monday’s press briefing that draft-solutions would include all stakeholders in the coming period. “The objective is to create an optimal tax system and just taxation that supports economic growth and living standard of citizens,” said Minister Besimi.