Tax News: Amendments to the Personal Income Tax Law | KPMG | MK

Tax News: Amendments to the Personal Income Tax Law

Tax News: Amendments to the Personal Income Tax Law

KPMG's Tax News outline and highlight legislative changes and trends in the area of tax.


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Personal Income Tax Law

The amendments to the Personal Income Tax Law (PIT Law) discussed in the previous issue of KPMG’s Tax News from 14 November were passed by the Macedonian Parliament and promulgated in the Official Gazette no. 190 dated 25 December 2017. They will become effective as of 1 January 2018.

The amendments mainly focus on the introduction of certain requirements for calculation and payment of personal income tax and will impact both legal entities and individuals.

In summary, the key amendments include:

  • Requirement for legal entities to prepare and submit an electronic calculation through an online portal for each payment of monetary income or provision of non-monetary income to employees as well as payment of income to other individuals
  • Requirement for resident and non-resident individual taxpayers generating income subject to personal income tax to prepare and submit electronic calculation through an online portal within a specific deadline depending on the type of income generated 
  • Annual income tax return will be generated by the tax authorities latest by 30 April of the following year that should afterwards be confirmed by the individual by 31 May or amended if such amendments are needed.

How can KPMG assist?

Tax Compliance Services for legal entities

KPMG’s Tax Team can assist you to comply with the requirements for legal entities and the preparation and submission of electronic calculation for payments towards employees and individuals.

Tax Compliance Services for individuals

In relation to the compliance obligations for individuals, we can provide advice about the tax compliance requirements as well as full scope tax compliance services and practical assistance with the preparation and submission of electronic calculation for payment of advance personal income tax and assistance with the review of the annual income tax return.

© 2018 KPMG DOOEL Skopje, a Macedonian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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