Monday, 12 November 2018 | News today: 26

VAT on apartments to remain at five percent

Minister of Finance Dragan Tevdovski said Tuesday that citizens would again have the opportunity to submit applications for privatizing building land. Also, value-added tax on apartments will remain to be charged at the preferential rate of five percent.

The recent changes to the law, Minister Tevdovski said, were made to meet the needs of citizens.

“The Ministry of Finance made legal changes to allow citizens to submit applications for privatizing national building land,” Tevdovski said. “They were not allowed to apply after the deadline ran out in December of 2014. Now they can apply again until 2021.

“Also, to meet the needs of citizens, the Ministry amended the Law on VAT, maintaining the preferential rate of five percent until 2023.”