On 27 December 2024, the Parliament of North Macedonia adopted the new Law on Minimum Global Corporate Income Tax (“Law”).
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 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.
The Law’s provisions will apply starting with the 2024 fiscal year, with certain exceptions.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.
By Veton Qoku, Partner, and Ana Kashirskaa, Senior Associate, Karanovic & Partners
