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Accounting in North Macedonia

 Introduction

Once the company is formed, the usual next step after the bank account registration is to engage or employ an accountant who will take care of the accounting books for the company.

 

The ussual accounting, bookkeeping, reporting and tax compliance services in North Macedonia can include:

  • Monthly closing of accounts, reports on profit and loss, balance sheet, cash flow
  • Maintenance of the statutory accounting general and subsidiary ledgers
  • Bookkeeping of all primary documents in compliance with local statutory requirements
  • Accounts Payable and Accounts Receivable services
  • Bank payment administration and cash management
  • Inventory services, fixed asset, leases and loans
  • Preparation of all required statutory reporting and submission to local authorities
  • Consolidated reporting, reconciliation between statutory and management reports
  • Preparation of reports in both local GAAP and international IFRS/US GAAP standards
  • VAT registrations and return filings, VAT compliance and consultancy
  • Preparation and submission of the Annual Financial Statements (AFS)
  • Preparation and submission of the Corporate Income Tax Return (CIT Return)
  • Representation in communication with the Macedonian Tax Office and all statutory authorities
  • Assistance and representation during audits, inspections and tax controls
  • Any other tax consultancy associated with local taxes, real estate taxes, and others

Thy Business Guide, 2021