Friday, 20 July 2018 | News today: 0

Increasing taxes will increase grey economy


VMRO-DPMNE leader Nikola Gruevski said in Bitola today that the increase in taxes will have multiple damages to the economy.

Any increase in taxes negatively affects the economy. They (SDS) in their program have announced an increase in personal income tax, and I am informed that they plan to increase the tax on profits and contributions, and they will do so gradually, not at once. It will be very bad for companies, for investors, because it will worsen working conditions and increase their costs, which means they will force them to reduce their investments. As soon as investments are reduced, practically opening of new job will be reduced, Gruevski said.

He pointed out that Macedonia was a country with the lowest taxes in the world, with an effective tax rate of 7.4 percent and that it was not by chance that many investors came in the country.