Fourth package of economic measures for dealing with the consequences of COVID - 19 adopted by the Government of RSM

We notify you that on the government session held on 27.09.2020, the following economic measures for overcoming the economic consequences of the Coronavirus COVID-19 were adopted:

Measure 1: Financial support for payment of Salaries, which shall continue to apply for the last quarter of the year, for the months of October, November, and December.

  • The greater the decline in revenue in the companies covered by this measure, the greater will be the support from the state for the payment of salaries and it will range from the current 14,500 to 21,776 MKD.
  • The companies that will apply must keep the number of employees they had until July 31, 2020.

Measure 2: Payment cards for citizens for higher consumption and for the development of domestic economic activities.

Measure 3: The increase of the grace period for the interest-free loans from KOVID-19.

  • Additional 3 months grace period before repayment of annuities from the taken loans.

Measure 4: New EUR 100 million favorable loans from the Development Bank of the Republic of North Macedonia.

Measure 5: Salary support for tour guides.

  • Tour guides for the months of October, November, and December will be paid a minimum gross salary of 21,776 denars.

Measure 6: Tourism sector – Refund of the tourist tax for 2019.

Measure 7: Grants for travel agencies.

Measure 8: Reduction and / or abolition of parafiscal duties.

Measure 9: Grants for wedding restaurants.

Measure 10: Extension of work licenses of the discos, nightclubs, and companies in the transport community.

Measure 11: Grants for the children's playrooms.

Measure 12: Support for artisans.

  • Reduction of VAT on their services and products from 18% to 5%

Measure 13: State credit guarantee.

  • 10 million euros of funds available to support companies for easier access to cheap funds

Measure 14: State customs guarantee.

Measure 15: Additional postponement of loan repayments for companies until the end of the year.

Measure 16: Reduction of the penalty interest for public duties by half from 0.03% to 0.015% by the end of the year.

Measure 17:  Postponement in payment of advance payment of profit tax.

  • Postponement in the payment of profit tax advances until March 2021 for companies that have a revenue decline of more than 40%

Measure 18: Exemption from VAT for public donations, for another 12 months.

Measure 19: Reduction of VAT rate for restaurant services and serving food and beverages.

  • Services will be taxed with a new preferential VAT rate of 10% instead of the current regular rate of 18%

Measure 20: Postponed payment of VAT.

  • Postponed payment of VAT, seven days after submitting the VAT report, without interest.

Measure 21: Deleting the Continuing Vocational Training (CPI) requirement for accrual of points for the extension of an accountant license.

Measure 22: Increase of the period for carry-forward loss (at the expense of future profits).

  • The deadline for the carry-forward loss will be extended to five years.

Measure 23: Increasing the threshold with which the entities would be part of the non-taxation regime with profit tax and increasing the threshold with which the entities would enter the regime of tax on total income.

Measure 24: Recognition of the cost of private health insurance as a recognized expense.

Measure 25: Recognition of costs from COVID - 19 tests as a recognized expense.

Measure 26: Reduction of import duties on raw materials.

Measure 27: Support for human capital development.

  • Exemption from profit tax and personal income tax for staff costs related to retraining and team building.

Measure 28: Support for the redemption of grapes from the 2020 harvest.

Measure 29: Sector for Games of chance.

  • Exemption in the amount of 2/3 of the legally prescribed amount for organizers of games of chance.

Measure 30: Change in the calculation of the basis for the financing of the Local Government Units.

Measure 31: Weekend without VAT.

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