VAT solutions in North Macedonia
Managing VAT is an essential part of a company’s financial obligations in North Macedonia. It involves navigating the intricate VAT regulations, which necessitates a thorough comprehension of the rules and careful attention to detail. Our method aims to assist businesses in tackling these challenges confidently, ensuring they comply with the regulations while also recognizing possibilities for VAT optimization. By prioritizing precision and strategic understanding, we empower companies to meet their VAT requirements both efficiently and effectively, offering reassurance amid an ever-changing tax environment.
VAT rate
In North Macedonia, VAT is set at a standard rate of 18%, while specific goods and services benefit from reduced rates of 5% and 10%. VAT is charged on the supply of goods and services as well as on imports. Exports are rated at zero, and some transactions are exempt from VAT.
Our VAT services
We provide a thorough array of services aimed at helping businesses navigate the intricacies of VAT in North Macedonia. Our objective is to guarantee complete compliance while enhancing your VAT situation, enabling you to concentrate on expanding your business. Our offerings encompass:
VAT compliance
We offer VAT compliance services that guarantee your VAT returns are accurately prepared and submitted punctually, fully complying with both local and international VAT regulations. Our team assists you throughout the entire process, offering expert guidance on required documentation and submission timelines. This approach helps maintain your business’s compliance and reduces the likelihood of penalties and other VAT-related challenges.
VAT planning and optimization
We provide services for VAT planning and optimization that focus on creating strategies to lower your VAT obligations. Our team collaborates with you to pinpoint and utilize all possible VAT exemptions, reductions, and refunds. Furthermore, we help you organize your transactions and supply chains in a way that is efficient for VAT purposes, making sure that your VAT strategy is in harmony with your overall financial goals.
VAT registration
Understanding VAT registration requirements can be difficult, particularly for businesses that are entering the North Macedonia market or looking to expand. Our VAT registration service makes this process easier by handling all elements of your VAT registration. We help you identify if your business requires VAT registration, complete the requisite forms, and ensure timely submissions. Furthermore, we offer advice on VAT registration thresholds, intra-community transactions, and ongoing compliance responsibilities, enabling you to concentrate on your main business activities.
VAT accounting
We offer extensive assistance in assessing your VAT obligations and making sure that your VAT reporting adheres completely to accounting standards such as IFRS and GAAP. Additionally, we manage the reconciliation of VAT accounts with your general ledger balances, delivering precise and clear financial statements that represent your company’s actual financial condition.
VAT audits and representation
If your business faces a VAT audit, our VAT audits and representation services are available to help you. We help collect all required documentation and represent you in discussions and dispute resolutions with the VAT authorities in North Macedonia. Furthermore, we provide pre-audit reviews to pinpoint and resolve potential compliance issues before they become serious, ensuring your business is fully prepared for any examination.
Cross-border VAT compliance
For businesses operating in various jurisdictions, our cross-border VAT compliance services facilitate effective management of your VAT obligations in multiple locations. We offer comprehensive guidance on adhering to the unique VAT laws and regulations of different nations, including assistance with VAT registration, invoicing, and reporting requirements. This support enables you to confidently navigate the intricate world of international VAT.
International VAT advisory
Our international VAT advisory service is tailored to help businesses operating in various countries navigate the complexities of international VAT. We offer strategic advice on cross-border transactions, VAT registration across different jurisdictions, and the reclamation of foreign VAT. Our team provides expert guidance on enhancing your global VAT position, addressing key topics such as supply chain structuring, VAT grouping, and handling VAT obligations in several countries. This service is perfect for companies aiming to broaden their international reach while efficiently managing their VAT duties.
VAT system
A deep understanding of North Macedonia’s VAT system is crucial for any business operating domestically or internationally. Our knowledge offers a detailed explanation of how the VAT system functions, including the specific situations where VAT applies. We assist you in navigating the different rates, exemptions, and regulations that shape North Macedonia’s VAT environment, helping your business stay compliant while strategically working to improve VAT efficiency. With a solid comprehension of the VAT system, you will be prepared to make informed decisions that align with your company’s financial objectives and reduce potential VAT liabilities.
Contact us
To find out more about our VAT services or to talk about how we can help, reach out to us.
Disclaimer
Tax laws and regulations are frequently updated and can differ according to personal situations. The details presented here serve as general guidance and might not represent the latest changes. It is strongly advised to seek the assistance of a qualified tax professional for specific and current advice tailored to your circumstances.