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Macedonia Plans Free Zone For Professional Services

By Lorys Charalambous, Tax-News.com, Cyprus

22 July 2014


Macedonia is planning special economic zones with considerable tax breaks, but there has been suspicion about the benefits of such a move with concerns locally that they might attract criminal activity.

Macedonia's Prime Minister, Nikola Gruevski has rebuffed these concerns, stating that the zones will be subject to the same level of regulation as in countries like the USA, the UK, and Germany.

Last week, the country's Parliament agreed to make constitutional amendments to facilitate the introduction of areas with special tax breaks and other benefits for businesses.

Gruevski told reporters that the planned zone, which would generally house offices, would be catered to the needs of professionals, and in particular economists and lawyers, and would cover an area of 10 to 20 hectares.

TAGS: tax | business | law | professionals | legislation | tax breaks | regulation | Macedonia

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