North Macedonia

Individual - Significant developments

Last reviewed - 30 July 2020

According to the recent amendments, as of 1 January 2020 until 31 December 2022, the progressive tax rate on individual income will not apply. Instead, 10% flat tax rate will apply on individual's income from work, self-employment income, income from royalties and industrial property rights, income from sale of own agricultural products, rental income, income from capital, capital gains, insurance income, as well as other taxable income not categorised separately in the legislation. The tax rate on the gains realised from games of chance will be 15%.

The taxation of interest on termed deposits and capital gains from sale of securities and shares released from investment funds is postponed until 1 January 2023.