Monday, 14 June 2010 

64th Meeting of the committee on financing and budget 

The Committee on Financing and Budget, on its 64th Meeting held on 9 June 2010, as a competent working body reviewed the Draft-law Amending the Law o Value Added Tax (I reading) and the Amendment to the Article 2 from the Law Amending the Law on Premium Tax submitted by the MPs from the Social Democratic Union. 

The introductory address on the Law Amending the Law on Value Added Tax was provided by the Vice- Minister of Finance Mr. Nedim Ramizi the committee unanimously concluded that the Draft-law amending the Law on Value Added Tax is acceptable and that it can precede to further reading in the Assembly of the Republic of Macedonia.

Mr. Mile Andonov elaborated the Amendment on the Article 2 from the Draft-law Amending the Law on Premium Tax submitted by the MPs from the Social Democratic Union. Mr. Andonov underlined that this amendment is in direction of elimination of double taxation of dividends in the transfer from one to another entity, as well stimulation of the tax payers to reinvest the profit in the Republic of Macedonia. 

Since the premium is listed in the financial reports from 2009, the Law should be applied from 1 January 2009. 

The Government Representative did not agree with the submitted amendment. 

The Committee, with 3 votes “for” and 7 “restrained” did not adopt the amendment. The Committee with 7 votes “for” and 1 “restrained” concluded that he Assembly of the Republic of Macedonia should review and adopt the Law Amending the Law on Premium Tax