Skopje, 10 March 2022 (MIA) – Parliament Speaker Talat Xhaferi has scheduled the session on amendments to the Law on Value Added Tax and Law on Excise Tax for 3 pm on Friday. The Government sent Thursday amendments to the Law on Value Added Tax and Law on Excise Tax to the Parliament, noting they should be adopted in expedited procedure in order to ensure a decrease of retail prices of fuels and oil derivatives. The laws relate to various measures, such as cutting the VAT rate for elementary food products to zero – bread, sugar, flour, sunflower oil, milk, fresh meat, rice and eggs, the Government said in a press release. They also include a reduction of the VAT rate on energy turnover from 18 to 10 percent, VAT exemption for energy import, and excise tax cut in compliance with stock market prices. The measures aim to mitigate the price shock caused by the high oil and fuel prices at global markets. The Government urges lawmakers to urgently adopt the amendments for the purpose of swift implementation of the measures for protection of the living standard and liquidity of businesses.