Macedonian VAT laws have undergone a number of revisions in 2014. Published in the Official Gazette no. 130/2014 and effective as of 11 September 2014, the new Law on VAT makes VAT registration mandatory for companies with a turnover starting from USD 20,000. Also the new laws allows for e-invoicing as from March 2015. Albeit not in compliance with EU provisions on electronic invoicing.
This article is based on a post by Elena Kostovska who works at Eurofast.
Lowered VAT registration turnover treshold
According to the new regulations, as of 2015, the threshold for mandatory VAT registration is being slashed in half, from the current 2 million Macedonian Denar (USD 41,000) in annual turnover to a mere 1 million Macedonian Denar (USD 20,500).
It is expected that this change alone will make VAT registration mandatory for a large number of micro and small entities that are currently outside the VAT scheme due to lower annual turnovers.
E-invoicing allowed. Not in compliance with EU rules
The new Law also prescribes the possibility to issue electronic invoices between companies as of 1 March 2015. The Article has received positive criticism from the business community as it seems to open up possibilities for more streamlined and technologically advanced invoicing procedures which are currently being regulated by old-fashioned laws and procedures.
The article does, however, specify that the company being invoiced must be given a prior written approval declaring its willingness to accept electronic invoicing as opposed to paper-based invoices. This off course different from European legislation that also allows for implicit approval.
As Macedonia has since December 2005 been a candidate for joining the European Union, it might rethink it is legislation on this aspect. Just like is the case with Romania.
Kirill on 
