MoF signed Memorandum for Cooperation with SECO – Swiss support to provide for strengthened macroeconomic planning and management in the Republic of North Macedonia
4th November 2022, Skopje – Memorandum of Understanding between Ministry of Finance of the Republic of North Macedonia and the Swiss State Secretariat for Economic Affairs (SECO), provides for establishing cooperation in the field of macroeconomic planning and management.
Memorandum for Cooperation aimed at implementing the Macroeconomic Planning and Management Project in the Republic of North Macedonia was signed today by Minister of Finance, Fatmir Besimi and the Swiss Ambassador, Veronicca Ullman.
During the meeting, Minister Besimi stressed that the Ministry has made significant efforts as regards the public finance reforms, thereby emphasizing the significance of the Swiss support in their implementation.
Within this Project, by implementing the first module, Ministry of Finance will be able to set a macroeconomic planning framework, concept, which will provide for coherent data analyses, forecasts and policy planning. Global Project is based upon the IMF Instrument for Financial Programming and Policies, which will be implemented via modular approach. Project implementation is supported by experts from the Implementing Consortium formed of Ecorys and OGResearch.
Swiss Government within the Government Debt and Risk Management Program, provides full support for the activities implemented by the Ministry of Finance, all to the end of enhancing the public finance management process by financing project activities, which will be realized with IMF and WB technical support.
Anyway, both countries enjoy active cooperation in the tax area as well. Last year, Protocol amending the Convention for Avoidance of Double Taxation, with respect to Taxes on Income and on Capital was signed between Republic of North Macedonia and Switzerland in line with the new Tax Convention of the Organization for Economic Cooperation and Development (OECD) and BEPS Standards.
Protocol provides for strengthening the existing provisions pertaining to avoidance of double taxation with respect to taxes on income and on capital between both countries as regards the exchange of information for tax purposes, thus also achieving greater tax transparency and fair tax treatment.