On 27 December 2024, the Ministry of Finance of North Macedonia submitted a draft Law on Minimum Global Corporate Income Tax (“Draft Law”) to the Parliament of North Macedonia.
This legislation aims to align local laws with the EU’s Global Minimum Tax Directive 2022/2523 implementing Pillar 2 of OECD’s Global Anti-Base Erosion Model Rules. The Draft Law is part of a broader effort to implement a global minimum tax rate of 15% for multinational enterprises (“MNEs”).
The 15% minimum tax rules will apply to MNEs and large domestic groups that have an annual income of at least EUR 750 million in the consolidated financial statements of the ultimate parent company for at least two of the four years preceding the fiscal year under review.
If adopted, the Draft Law’s provisions will generally start to apply with the 2024 fiscal year, with certain exceptions.
The Draft Law is expected to be voted in an expedited procedure, before the year’s end.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.
