Slovaks are helping Macedonians with public finance reform

Slovakia is the first and so far the only country to provide assistance to Northern Macedonia in the reform of public finances.

From January 13 to 17, Slovak experts met for the second time with their Macedonian colleagues to share their experiences with them with transfer pricing and its control. The activity is part of long-term development program, which in partnership with Development Aid The United Nations (UNDP) is implemented by the Ministry of Finance of the Slovak Republic. TASR informed about it Ľubomíra Schlosserová from UNDP.

“The first activities of the program started in 2009 in Moldova and gradually extended to Serbia, Montenegro, Ukraine and Bosnia and Herzegovina. Northern Macedonia is already the sixth country in which the Ministry of Finance provides technical assistance for reform steps, both governmental and local level, “Schlosser said. The content of the first study tour of tax and financial experts from Northern Macedonia was the end of November last year year issues of local taxes and fees.

According to the national expert, the correct transfer pricing is Professor Borch Trenowski from the University of Skopje for Northern Macedonia, currently very important. It makes it difficult for multinationals companies export profits abroad and optimize domestic companies taxes by spilling profits into related loss-making companies. “Foreign investment in Macedonia is increasing from year to year, no We have noticed the financial activities of entities in Macedonia invested are strong outwards, but nothing has changed in the real processes taxation of these companies, “said Trenovski.

Although Northern Macedonia has already adopted the relevant legislation, this country lacks experience in its practical application and in particular with control. A group of 20 Macedonian experts from the Ministry of Finance and the Public Revenue Office was therefore particularly interested in practical examples from the application of legislation and tax controls.

Fair taxation of the profits of multinational companies is interesting and current topic also according to the head of the international taxation department from the Financial Directorate of the Slovak Republic Silvia Karelová. “The goal of the whole program is to provide technical support to the Macedonian tax administration in the area of transfer pricing, either in the form of training or in the form of lectures and presentations on certain selected specific topics of interest to them. We designed this professional program, which we have in Bratislava, mainly for based on their requirements, “Karelová specified.

According to Trenovsky, the project is at a crucial moment. “We are now at a stage when we want to strengthen public finances. We would like to find new resources and to tax our taxpayers more fairly, “said Trenovski.

According to Karelová, Slovakia’s cooperation with Northern Macedonia should continue. “This is a pilot phase of the whole project, which would should continue in the next three or four years, “she added Karelová.

Slovakia is the first and so far the only country to provide assistance to Northern Macedonia in the reform of public finances.

From January 13 to 17, Slovak experts met for the second time with their Macedonian colleagues to share their experiences with them with transfer pricing and its control. The activity is part of long-term development program, which in partnership with Development Aid The United Nations (UNDP) is implemented by the Ministry of Finance of the Slovak Republic. TASR informed about it Ľubomíra Schlosserová from UNDP.

“The first activities of the program started in 2009 in Moldova and gradually extended to Serbia, Montenegro, Ukraine and Bosnia and Herzegovina. Northern Macedonia is already the sixth country in which the Ministry of Finance provides technical assistance for reform steps, both governmental and local level, “Schlosser said. The content of the first study tour of tax and financial experts from Northern Macedonia was the end of November last year year issues of local taxes and fees.

According to the national expert, the correct transfer pricing is Professor Borch Trenowski from the University of Skopje for Northern Macedonia, currently very important. It makes it difficult for multinationals companies export profits abroad and optimize domestic companies taxes by spilling profits into related loss-making companies. “Foreign investment in Macedonia is increasing from year to year, no We have noticed the financial activities of entities in Macedonia invested are strong outwards, but nothing has changed in the real processes taxation of these companies, “said Trenovski.

Although Northern Macedonia has already adopted the relevant legislation, this country lacks experience in its practical application and in particular with control. A group of 20 Macedonian experts from the Ministry of Finance and the Public Revenue Office was therefore particularly interested in practical examples from the application of legislation and tax controls.

Fair taxation of the profits of multinational companies is interesting and current topic also according to the head of the international taxation department from the Financial Directorate of the Slovak Republic Silvia Karelová. “The goal of the whole program is to provide technical support to the Macedonian tax administration in the area of transfer pricing, either in the form of training or in the form of lectures and presentations on certain selected specific topics of interest to them. We designed this professional program, which we have in Bratislava, mainly for based on their requirements, “Karelová specified.

According to Trenovsky, the project is at a crucial moment. “We are now at a stage when we want to strengthen public finances. We would like to find new resources and to tax our taxpayers more fairly, “said Trenovski.

According to Karelová, Slovakia’s cooperation with Northern Macedonia should continue. “This is a pilot phase of the whole project, which would should continue in the next three or four years, “she added Karelová.