• Saturday, 29 June 2024

Finance Minister presents tax reform to experts

Finance Minister presents tax reform to experts
Skopje, 22 August 2022 (MIA) – Minister of Finance Fatmir Besimi presented Monday the national tax reform concept — which should be introduced in stages from 2023 through 2025 — to experts, deans, rectors and university professors, according to a press release from the Ministry of Finance. In his presentation, Minister Besimi stressed the importance of transparency and inclusivity to the process, meant to create a fair, equitable, efficient and modern tax system and foster economic development. “During the debate process, we presented the tax reform concept to the business community, the nongovernmental sector, corporate associations, consulting companies and others, who all offered constructive suggestions and a positive contribution to the process. “We are continuing this today with you, the expert public, whose inclusion is very important, due to your knowledge and experience. All arguments are welcome, with the final goal of defining the solutions together, because they concern everyone in the society,” Minister Besimi is cited as saying in the release. He said this process was part of the SMART finances system, which determined the rules on expenditure, with the Budget Law defining the regulations and establishing a mechanism to control spending of budget revenue. “It is an intertwined system, the efficiency of both incomes and expenditures is improved, because the citizens demand responsibility when the money collected through the established tax policy is spent,” Besimi said. The Ministry of Finance announced that in parallel with these processes, activities were being undertaken to increase the capacities of the institutions aimed at more efficient revenue collection and reducing the grey economy. This, they explain, will ensure for a fairer and more equitable tax system, by making sure that those who were not a part of the system thus far will become a part of it and thereby bear their own fair share of the tax burden. Further digitizing the tax and customs administration will also play an important role in the tax reform, the ministry said. Toward this aim, the Public Revenue Office is preparing to introduce "e-fiscalization and e-invoicing" and similar activities are ongoing in the Customs Administration as well. “At the meeting, similarly to the previously held meetings, several opinions of the tax reform concept were shared, which will be taken into account when the final solutions are drafted,” according to the press release. In addition, interested parties can submit their opinions and suggestions through the Ministry’s website or the danocnareforma@finance.gov.mk email address. The public debate continues through meetings with other stakeholders in society, the release adds. ad/mr/