Macedonia's Ministry of Finance has published draft legislation for individual income tax reform that is meant to provide fairness in the tax system. Some of the key changes of the reform include:
- The separation of labor income and capital income for tax purposes;
- The introduction of an 18% tax bracket for labor income exceeding MKD 1,080,000 per year (MDK 90,000 per month), with the current 10% tax rate on income continuing to apply on income up to that amount;
- An increase in the standard …