Kosovo and Macedonia avoid double taxation

Companies from Kosovo which operate in Macedonia will not pay taxes twice anymore. The same is with companies from Macedonia which operate in Kosovo. Next week authorities from Prishtina and Skopje will sign an agreement to formalize the deal, sources close to the Government of Macedonia said.

The agreement means that companies which pay taxes in one state are relieved of them in the state in which they are incorporated. This way they save up to 10% which would have been spent for taxes in both the exporting state and the place where the company was registered.

This deal will increase the economic cooperation between Kosovo and Macedonia because, according to the Ministry of Finance of Macedonia, they have a positive balance of trade with the northern neighbour. Last year, out of $324 million of foreign trade, $314 million were exported to Kosovo.

ECIKS / Telegrafi