We are pleased to inform you that yesterday in the Official Gazette No. 75/2024, the new Rulebook on accounting according to the new IFRS standards was published.
ПРАВИЛНИК ЗА НАЧИН ВОДЕЊЕ СМЕТКОВОДСТВО Сл.весник бр.75/2024 од 3 април 2024 година – ISOS
This regulation enters into force the following day from the day of its publication in the Official Gazette, and will begin to be applied from January 1, 2025.
Foreign Investors Council has long initiated and demanded the harmonization and application of the latest international standards for financial reporting, as they were not updated for 12 years. This was one of the Top 5 requests of foreign investors according to the Business and Investment Indicator 2023 survey.
International accounting standards play a decisive role in the process of unification and harmonization of financial reporting through the standardization of financial reports, which provides the best and most reliable basis for evaluating various business decisions, both for Macedonian companies and for foreign investors.
Harmonization of International Accounting Standards is extremely important for companies in the country because it reduces the administrative burden, especially for foreign companies, which until now were forced to keep parallel reports for the purposes of reporting to parent companies and reports that are in line with domestic regulations.
Also, this harmonization paves the way for the unification of the rules for eligible investment costs for State aid that would have the same treatment for all state aid providers. We expect their implementation immediately after the elections and the establishment of the new Government.
Foreign Investors Council expresses its gratitude and satisfaction from the cooperation with all relevant institutions regarding the latest harmonization and adoption of the new Rulebook. Special thanks to ISOS - Institute of Accountants and Chartered Accountants.
Foreign Investors Council will continue to encourage the government to follow and apply the latest international achievements in various aspects of business operations.