Prime Minister Hristijan Mickoski announced that the daily savings for citizens due to the government’s involvement with derivative products now exceeds 200,000 euros, with weekly projections reaching 1.5 million euros. He detailed the rationale behind the government’s decision to lower Value Added Tax (VAT) rather than raise excise taxes. Mickoski emphasized that North Macedonia currently possesses the lowest tax rates for government operations concerning gasoline and diesel compared to neighboring countries like Bosnia and Herzegovina and Serbia, which have approximately double the rates.
He highlighted that the government undertook extensive analyses, considering prevailing market prices for these fuels. Their assessment indicated that any intervention through excise taxes would only result in a reduction of 1 denar per liter for gasoline and 2 denar per liter for diesel. Consequently, the government opted for a more substantial intervention, decreasing excise taxes by 6-6.5 and 7 denar per liter.
This decision was driven by significantly lower derivative prices, benefiting citizens through these savings.
Topics: #government #euros #mickoski