Development zones make for attractive tax system.

The article reports on the taxation of technological industrial development zones (TIDZs) in Macedonia. It states that as part of the government's priority initiatives, the zones' land is available under long-term lease and companies starting their operations in one of the four available zones will not be subjected to utility taxes. It notes that a 10-year tax holiday is also offered which will exempt companies from paying both profits tax and personal income tax. It adds that companies operating in TIDZ are also exempt from the payment of value-added tax (VAT) and customs duties for goods, raw materials, equipment and machines used for export production.