Macedonia Individual Income Tax Reform and Social Security Rates for 2019

Macedonia approved legislation for individual income tax reform on 26 December 2018. Some of the key changes of the reform include:

• The separation of employment income, capital income, and other types of income for tax purposes;
• The introduction of a two-bracket system for employment income, income from independent activity, income from copyrights and related rights, and income from the sale of own agricultural products as follows:
  • Up to MKD 1,080,000 (MDK 90,000 per month) – 10%
  • over MKD 1,…