Category: Economy
Economy 22.01.24 | 17:20

Gas costs have somewhat increased

Starting from midnight on Monday, the Energy Regulatory Commission (ERC) has announced an increase in fuel prices. Gasoline and diesel fuels will see an uptick of Mden 1.5 per liter, while extra light household oil will experience an increase of Mden 1. Under the new pricing structure, the retail cost...
Economy 22.01.24 | 10:25

The IRS disputes the claims and tries to disseminate rumors about crimes done in the organization that were made by VMRO – DPMNE

The Public Revenue Administration refutes the allegations made by VMRO – DPMNE and dismisses attempts to propagate speculations. The institution asserts that the statements by VMRO-DPMNE spokesperson Naum Stoilkovski, regarding purportedly committed crimes related to a VAT refund, are entirely...
Economy 21.01.24 | 12:20

Company from Strumica collected millions from the tax authority, before being sold to a businessman from Kosovo

VMRO-DPMNE named one of the companies at the heart of the growing scandal in the UJP tax authority, which has reportedly allowed reimburesment of taxes to companies that cited false turnover. AKTIKO, a company registered for trade with textiles in Strumica in 2022, sought 10.5 million EUR in reimbursements...
Economy 20.01.24 | 17:58

VMRO reveals tax fraud scheme leading to companies in Strumica

VMRO-DPMNE Vice President Gordana Dimitrieska Kocoska revealed a new scandal involving abuses in the UJP tax authority. According to Dimitrieska, a number of companies registered in Strumica – the stronghold of former SDSM party leader Zoran Zaev – were recently set up and immediately began...
Economy 16.01.24 | 14:28

The National Bank improves its ability to identify fake currency

In a recent press release, the National Bank announced that over 200 employees from commercial banks and financial institutions have undergone training conducted by experts in counterfeit money detection. The primary objective of this training is to equip cash handlers with the skills to promptly identify...
Economy 16.01.24 | 11:59

President Pendarovski during the Davos annual meeting of the WEF

President Stevo Pendarovski is set to participate in the 54th Annual Meeting of the World Economic Forum (WEF) in Davos on January 16-17, centered around the theme “Rebuilding Trust.” The President is slated to join sessions such as “Diplomatic Dialogue on Western Balkans,” engage...
Economy 15.01.24 | 16:20

Gasoline prices are decreasing, while diesel prices are on the rise

Gasoline is cheaper by half a denar, and diesel fuel, on the other hand, is more expensive by one denarius from yesterday, the Regulatory Commission for Energy (RKE) informs. With the new decision of RKE, the price of diesel fuel will be 73.5 denars per liter, the price of Eurosuper 95 will be 76.5 denars...
Economy 15.01.24 | 16:12

PRO prevents fraudulent activity related to VAT refund for oil companies

On Monday, the Public Revenue Office (PRO) disclosed detailed information regarding the deceptive practices employed by oil companies to secure a Value Added Tax (VAT) refund through personal income tax channels. The PRO conducted audits on three companies engaged in wholesale and retail trade of oil...
Economy 12.01.24 | 19:12

Bytyqi expects information on the universal electricity supplier to be available within the next 10 days

The opening and evaluation of bids to determine their compliance with conditions will take place today. Regarding the tender for the universal electricity supplier, Deputy Prime Minister for Economic Affairs Fatmir Bytyqi stated on Friday that they are unaware of potential applicants. Responding to a...
Economy 11.01.24 | 21:21

A number of elements determine whether a guaranteed pricing measure is valid

Prime Minister Dimitar Kovachevski stated on Thursday that the “guaranteed price” measure relies on the law on unfair trade practices and market price trends. Prices and profit margins are carefully monitored in collaboration with experts, and decisions are made based on thorough assessments. “The...
Economy 10.01.24 | 12:01

A new polyclinic will open in Saraj

A new polyclinic is scheduled to inaugurate in Saraj municipality on Wednesday. The event will feature speeches from Prime Minister Dimitar Kovachevski, First Deputy PM Artan Grubi, and Health Minister Fatmir Mexhiti.
Economy 09.01.24 | 14:00

Fuel prices dropped out

The Regulatory Commission for Energy, Water Services and Municipal Waste Management Services of the Republic of Macedonia (RKE) has adopted a Decision reducing the retail prices of petroleum products by an average of 0.54% compared to the decision of 2.1.2024. From 10.1.2024 at 00:01, the maximum prices...
Economy 04.01.24 | 16:16

Besimi clarified that there are no plans to increase officials’ wages in 2024 as it is not part of the budgetary provisions

Finance Minister Fatmir Besimi stated on Thursday that the 2024 Budget does not accommodate any increments in officials’ wages. Addressing queries during a press conference, Besimi emphasized the absence of provisions in the Budget for raising the salaries of elected and appointed officials, aligning...
Economy 03.01.24 | 18:22

Cigarette prices see a recent surge

An upward trend in cigarette and tobacco product prices ranging from two to four denars arises from amendments to the excise tax law passed in October of the current year. These revisions aim to align cigarette excise rates with the EU’s minimum standards and bring the total excise tax share in...
Economy 02.01.24 | 22:41

Large Cebren dam project on the verge of collapse

The Greek energy company Archirodon did not sign the contract for construction of the large Cebren hydro plant by the end of the year – as was requested – and also has not yet agreed to create a joint venture with the Macedonian ESM/ELEM for this purpose. This means that the much advertised...
Economy 02.01.24 | 16:55

The PRO requires foreign entities without a local subsidiary to assign a tax agent for VAT purposes

From January 1, foreign entities lacking a base or subsidiary in Macedonia, yet distributing VAT-taxable goods or services, must appoint a tax agent. Amendments to the Law on Value Added Tax dictate this requirement. To qualify as a tax agent, VAT-registered entities or individuals need at least a year...
Economy 02.01.24 | 16:38

Fuels from midnight with new prices

The Energy Regulatory Commission (ERC) has announced a decrease in gasoline fuel prices by Mden 0.5 per liter and diesel by Mden 1 starting Tuesday midnight. Following the adjustment, the new retail prices will stand at Mden 77 per liter for EUROSUPER BS-95, Mden 79.5 for EUROSUPER BS-98, Mden 73.5 for...
Economy 02.01.24 | 13:30

Despotovski announces Free Zones Authority’s kickstart to 2024 with a significant new investment

The Directorate for Technological-Industrial Development Zones (TIDZ) is welcoming a new foreign investment from a leading tech company based in Southeast Asia. Jovan Despotovski, the Free Zones Authority director, disclosed that this investment, located in economic zone Skopje 1, will bring in over...
Economy 30.12.23 | 21:01

As some Government officials promote Bechtel, others demand guarantees from the Chinese Sinohydro over a badly delayed highway

Deputy Prime Minister Fatmir Bytyqi said that it is high time to complete the Kicevo – Ohrid highway, where construction was stopped by the Zaev Government in 2017, citing alleged issues with the planned route. Officials in the Government, mainly First Deputy Prime Minister Artan Grubi, are trying...
Economy 30.12.23 | 13:14

New energy fee and price hike for those who use electricity for heating

The Energy Regulatory Commission (RKE) introduced a fee of 200 denars to access the power grid. It’s one of their attempts to hike the energy prices as the production sector continues to struggle. RKE also announced a 5 percent price cuts for households that spend less energy, but a smaller, almost...
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