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The Exchange of Tax Information Portal is an initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes. The Global Forum conducts peer reviews of its member jurisdictions' ability to co-operate with other tax administrations in accordance with the internationally agreed standard. The standard provides for exchange of information on request where it is foreseeably relevant to the administration and enforcement of the domestic tax laws of the requesting jurisdiction. Effective exchange of information requires that jurisdictions ensure information is available, that it can be obtained by the tax authorities and that there are mechanisms in place allowing for the exchange of that information. The Global Forum's peer review process examines both the legal and regulatory aspects of exchange (Phase 1 reviews) and the exchange of information in practice (Phase 2). The EOI Portal will track the development of these peer reviews, including changes that jurisdictions make in response to the Global Forum's recommendations.

Peer Review: North Macedonia Second Round 2019

This report for North Macedonia has been published on 18 Mar 2019. You can browse it online below.

Skip directly to the Executive Summary. You may also want to view the tables of determinations and ratings.


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Determinations and Recommendations

Jurisdictions should ensure that ownership and identity information for all relevant entities and arrangements is available to their competent authorities. (ToR A.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Largely Compliant.  The accuracy of the information maintained by the Central registry is contingent on the diligence of the registration agents and North Macedonia did not have a regular oversight programme in place to monitor the compliance of the obligations to maintain accurate and updated ownership and identity information for limited liability companies, foreign companies and partnerships during the review period.  North Macedonia should implement a system of supervision of registration agents and the digital certificate system to ensure the accuracy of the information submitted to the Central Registry and monitor on a regular basis the compliance of the legal obligations to maintain accurate and updated ownership and identity information for limited liability companies, foreign companies and partnerships. 
Although North Macedonia has introduced Register of Beneficial owners, the effectiveness of its implementation and practice could not be assessed as the law was passed in June 2018.  North Macedonia should ensure that the Register of Beneficial Owners is implemented in accordance with the standard. 
Jurisdictions should ensure that reliable accounting records are kept for all relevant entities and arrangements. (ToR A.2)
Determination Factors Recommendations
The element is in place.   North Macedonia’s legislation provides that the accounting books and records of companies that have ceased to exist should be deposited to the National Archives, but this does not include underlying documents.  North Macedonia is recommended to ensure that all the accounting records of companies that have ceased to exist are maintained for at least 5 years in line with the standard. 
Phase 2 Rating Factors Recommendations
Largely Compliant.  While North Macedonia’s legislation provides that the books and records of companies that cease to exist should be deposited with the National archives, this is not the case in practice. Thus, the only documents that would remain available are the annual accounts registered with the Central Registry.  North Macedonia is recommended to ensure that records of companies that have ceased to exist are maintained in North Macedonia for at least 5 years in line with the standard. 
Banking information should be available for all account-holders. (ToR A.3)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Competent authorities should have the power to obtain and provide information that is the subject of a request under an exchange of information arrangement from any person within their territorial jurisdiction who is in possession or control of such information (irrespective of any legal obligation on such person to maintain the secrecy of the information). (ToR B.1)
Determination Factors Recommendations
The element is in place, but certain aspects of the legal implementation of the element need improvement.   North Macedonia’s law does not ensure that all types of relevant information obtained under the AML/CFT law are accessible to the competent authority for EOI purposes.  North Macedonia is recommended to amend its laws so that all types of information collected by AML obliged persons pursuant to AML law can be accessed to answer a valid EOI request. 
Phase 2 Rating Factors Recommendations
Largely Compliant.     
The rights and safeguards (e.g. notification, appeal rights) that apply to persons in the requested jurisdiction should be compatible with effective exchange of information. (ToR B.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Exchange of information mechanisms should provide for effective exchange of information. (ToR C.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdictions' network of information exchange mechanisms should cover all relevant partners. (ToR C.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdictions' mechanisms for exchange of information should have adequate provisions to ensure the confidentiality of information received. (ToR C.3)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The exchange of information mechanisms should respect the rights and safeguards of taxpayers and third parties. (ToR C.4)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdiction should provide information under its network of agreements in a timely manner. (ToR C.5)
Determination Factors Recommendations
The assessment team is not in a position to evaluate whether this element is in place, as it involves issues of practice that are dealt with in the Phase 2 review.      
Phase 2 Rating Factors Recommendations
Compliant.