Excise Taxes on Fuel Increased in North Macedonia – Revenues to be Used in Fight Against Coronavirus
– The decree has been adopted in order to abate the economic consequences of the increase of the costs of fighting coronavirus and secure funds for a regular servicing of budget needs – said the PR of the Government of North Macedonia, Muamet Hodza.
At an online press conference, he pointed out that all revenues would be put into the fund for fighting coronavirus, to support the economy and the welfare measures.
According to Hodza, the increase is negligible compared to the substantial drop in the retail prices of oil since the beginning of the year of around 20 denars, as a consequence of the drop in the price of oil in the world market.
– The increase of excise taxes will have no additional financial implications for the economy and the citizens – Hodza said and pointed out that the proposed mechanism enabled the excise taxes to return to the previous amount when the market normalizes after the coronavirus crisis.
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