North Macedonia Capital Gains Tax Guide 2026

Overview — Capital Gains in North Macedonia

Capital gains are treated as ordinary income in North Macedonia and subject to the flat 10% tax rate. There is no separate capital gains tax regime. Gains from the disposal of assets including real estate, securities, business assets, and other capital assets are included in taxable income. The tax treatment differs by asset type and holding period. Resident individuals and companies are taxed on worldwide capital gains; non-residents are taxed only on gains from Macedonian assets.

Tax Rate — 10% (Ordinary Income)

Capital gains are included in the taxpayer's total annual income and taxed at the flat 10% rate. The gain is calculated as the difference between the disposal proceeds and the acquisition cost (plus allowable expenses). Losses on capital assets may be offset against capital gains in the same year, with unrelieved losses carried forward for up to 5 years. For companies, capital gains are included in corporate taxable profit and taxed at 10%.

Share Gains — Exemption After 1 Year

Gains from the sale of shares and other securities are exempt from tax if the shares were held for more than 1 year. This exemption applies to both listed and unlisted shares. Gains on shares held for less than 1 year are taxable at the standard 10% rate. The exemption was introduced to encourage long-term investment in the Macedonian capital market. The Macedonian Stock Exchange (MSE) has been developing steadily, with growing market capitalisation and liquidity.

Real Estate Gains

Gains from the sale of real estate are taxable under the following conditions:

• Primary residence — exempt if held for more than 3 years (or regardless of holding period if the proceeds are reinvested in another primary residence within 1 year)
• Investment property — gains taxable at 10% on the difference between sale price and purchase price (plus costs)
• Land — gains from sale of agricultural or development land are taxable at 10%
• Property acquired by inheritance or gift — cost base is the value at the time of acquisition (no uplift to market value at inheritance)

A notarial fee (stamp duty) of approximately 0.5-1% applies to real estate transfers in addition to any capital gains tax.

Business Asset Gains

Gains from the disposal of business assets (equipment, machinery, vehicles, goodwill) are included in corporate taxable profit and taxed at the standard 10% CIT rate. Rollover relief may be available where the proceeds are reinvested in replacement business assets within a specified period. Depreciation recapture rules require that the gain from an asset previously subject to capital allowances be recaptured as ordinary income up to the amount of allowances claimed.

FAQs

Do I pay tax on cryptocurrency gains?

Yes, gains from the disposal of cryptocurrencies are treated as capital gains and taxed at 10%. Crypto-to-crypto trades are taxable events. Mining income is treated as business income. See the crypto tax guide for details.

Is there a minimum holding period for real estate to avoid tax?

For primary residences, the gain is exempt if the property was held for more than 3 years. For investment properties, the gain is always taxable regardless of holding period, but only the real gain (sale price minus purchase price adjusted for inflation) is subject to tax.

Can non-residents sell Macedonian property tax-free?

Non-residents are taxed on gains from Macedonian real estate at the same 10% rate. A withholding tax may apply on the sale proceeds, with the buyer responsible for withholding and remitting to the PRO.

Disclaimer

This guide provides general information about North Macedonian capital gains tax for the 2026 tax year. Tax laws and rates may change. Always consult with a qualified Macedonian tax advisor or the Public Revenue Office for advice specific to your situation. InvestmentKit does not provide tax advice.