North Macedonia plans to cut personal income tax in IT sector to zero in 2023

North Macedonia plans to cut personal income tax in IT sector to zero in 2023

By bne IntelliNews January 20, 2021

North Macedonia’s government plans to lower personal income tax in the IT sector from the current 10% to zero in 2023, Prime Minister Zoran Zaev announced on January 20.

"That should be an incentive for further development of the IT industry," Zaev said in the government statement.

Zaev made the comment during the presentation of the investment of the Czech group Aricoma, which recently acquired software and consulting company Seavus, which has strong presence in Southeast Europe.

According to the data of the Central Register, the ICT industry in North Macedonia is growing.

"While the total income of the industry in 2016 stood at €752mn it rose to €880mn in 2019, which represents an increase of 17% in a period of three years," head of the executive board of Seavus, Igor Lestar, said.

The total number of ICT companies rose to 1,957 in 2019 from 1,296 in 2016.

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