North Macedonia:
North Macedonia Reduces VAT On Electricity Supplies
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The North Macedonian Government has adopted amendments to the
VAT Law during July 2021. The amendments affect the supply for
electricity to final consumers; a supply which has until now been
subject to the standard rate of 18%.
As of 16 July 2021 and up until 30 June 2022, a
reduced rate of 5% will apply to the supply of electricity while
starting from 1 July 2022 and until 30 June 2023, the supply will
be subject to a slightly higher but still
preferential rate of 10%.
The legislation changes stipulate that as of 1 July 2023, the
standard rate of 18% will be put back into effect.
The application of the reduced VAT rates is planned to at least
partially offset the expected price hike, following pressure by key
energy market players to increase the price of electricity due to
2020 reported losses.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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