Grant Thornton Shares Information on UEFA Super Cup tax benefits August 24, 2017

On August 08, 2017 Macedonia, on the National Arena Philp II of Macedonia, hosted the 42 edition of the UEFA Super Cup on which participated the actual champions of Champion League and Europe League FC Real Madrid and FC Manchester United.

For this purpose the Macedonian Government promulgated special purpose Law which shall be into force till January 31, 2018, the Law on tax, customs and other fiscal benefits in relation to the UEFA Super Cup 2017 in Republic of Macedonia. The following tax benefit to UEFA, related entities to UEFA and football clubs for the purchases performed for the purposes from Macedonian VAT payers of realization of the UEFA Super Cup shall be considered. Namely, the UEFA, UEFA’s related persons and the football clubs shall have tax benefit for a tax refund on the value added tax on the basis of submitted application to the Football Federation of Macedonia – FFM.

Above mentioned entities shall have the right to request a refund of the VAT on the purchases from Macedonian entities – registered for VAT purposes intended for realisation of the UEFA Super Cup 2017, by following certain procedure in front of FFM.

On bases, FFM establishes that all prescribed condition for a tax refund are met , prepares a Certificate on meeting the conditions within 10 days from receipt of the application. FFM, at least five days from the date of issuance of the Certificate, submits one copy of the application and the Certificate to the Public Revenue Office. Upon receipt of the documents, the Macedonian Public Revenue Office shall be responsible within 30 days from receipt to execute the request for tax refund and to transfer the funds for tax refund to the non-residential denar account opened in Republic of Macedonia of the applicant.

In case of need of assistance, our tax experts at Grant Thornton Consulting DOO Skopje, remain at further disposal.

Contacts:
Maja Filipceva
T +389 2 3214 700
E Maja.Filipceva@mk.gt.com

Sanja Risteska
T +389 2 3214 700
E Sanja.Risteska@mk.gt.com

Category: Announcements