North Macedonia Cuts Fuel VAT to Cushion Price Shocks

• North Macedonia will temporarily cut VAT on oil derivatives to 10% from 18%.
• The reduced VAT rate applies from September 15 to September 28.
• The measure is intended to limit price impacts from potential disruptions to oil and oil product supplies.
• The government also expects the planned excise duty cut to leave petrol prices up by about 3.5 denars per litre, while diesel should fall by about 2 denars per litre.
• This follows a similar temporary fuel VAT cut implemented in March from 18% to 10%.

Source: seenews.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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