North Macedonia has a clearer legal frameworks for cryptocurrency taxation. 

The country enacted the Law on Financial Supervision of Crypto Assets in January 2022, placing crypto activity within a regulated framework overseen by the Public Revenue Office (PRO) and subject to the general provisions of the Personal Income Tax Law (Official Gazette No. 241/2018 as amended).

 Under this framework, cryptocurrency is treated as a financial asset, and both capital gains and income derived from crypto activity are taxable.

Capital Gains Tax Rules

Under the Personal Income Tax Law (Official Gazette No. 241/2018 as amended), capital gains from the disposal of cryptocurrency are explicitly subject to a 10% flat tax. 

A disposal includes selling crypto for fiat currency, exchanging one cryptocurrency for another, and using crypto to purchase goods or services. The Law on Financial Supervision of Crypto Assets (2022) provides the regulatory backdrop that confirms crypto assets are within the scope of financial regulation, while the Personal Income Tax Law governs the tax consequences.

How gains are calculated

The taxable gain is calculated as the difference between the disposal proceeds and the acquisition cost of the crypto asset. Proceeds are valued in Macedonian denar (MKD) at the market rate prevailing at the time of disposal. The cost base is the original purchase price in MKD plus any directly attributable transaction fees. North Macedonia’s flat-rate approach means there are no holding period discounts or tiered rates based on the duration of ownership.

Capital losses on crypto disposals may in principle offset gains within the same tax period, though the PRO has not published detailed guidance on the precise mechanics of loss offset for crypto assets. As of 2026, North Macedonia has not issued specific guidance on whether crypto losses can be carried forward to future tax years.

Record keeping

Taxpayers are required to maintain records that support the calculation of gain or loss on every disposal, including purchase and sale confirmations, exchange records showing dates and prices in MKD, and records of any fees paid. These records should be retained for the period specified under Macedonian tax administration rules, which is generally five years.

Income Tax Rules

Income derived from cryptocurrency activity that does not take the form of a capital gain is treated as ordinary income under the Personal Income Tax Law, subject to the same 10% flat income tax rate applicable to other categories of income. 

This covers cryptocurrency received as payment for services, remuneration paid in crypto, and income from operating as a crypto trader or exchange on a commercial basis.

The 10% flat rate applies to individual taxpayers across all income categories under the Macedonian PIT system, making the distinction between capital gains treatment and income treatment less consequential in practice than in jurisdictions with progressive rates. Corporate entities are subject to corporate income tax on crypto-derived income at the applicable corporate rate.

As of 2026, the PRO has not issued detailed guidance distinguishing between passive crypto investment and active trading as a business for individual taxpayers. 

However, the general principle in most comparable jurisdictions, and the one that a conservative Macedonian taxpayer should apply, is that regular or high-frequency trading activity is more likely to be characterised as business income than occasional investment disposals.

Mining and Staking Treatment

Mining

Mining income in North Macedonia is taxable as ordinary income under the Personal Income Tax Law at the 10% flat rate. 

When a miner receives a block reward, that amount is taxable at the prevailing market value in MKD at the time of receipt. The explicit treatment of mining income as ordinary income, confirmed by the Personal Income Tax Law, means that miners cannot defer their tax liability to the point of disposal.

Miners operating at a commercial scale may be entitled to deduct directly attributable business expenses, including electricity costs and hardware depreciation, against their mining income. The PRO has not published specific guidance on the deductibility of mining expenses for individual miners, so those operating at smaller scale should seek professional advice. 

The subsequent disposal of mined cryptocurrency at a profit will give rise to a capital gain, with the cost base being the MKD value at which the asset was brought to account as income on receipt.

Staking

As of 2026, North Macedonia has not issued specific guidance on the tax treatment of staking rewards.

 Applying the general principles of the Personal Income Tax Law, staking rewards received by resident individuals would most likely be treated as ordinary income at the time of receipt, taxable at 10%. This is consistent with the treatment of mining income and with the approach taken in comparable jurisdictions.

On disposal of staked assets, any appreciation in value over the original income value recognised at receipt would be subject to capital gains tax at 10%. Taxpayers who earn staking rewards should maintain records of each reward received, including the date, the amount, and the MKD value at the time of receipt, to support accurate reporting of both the income and any subsequent disposal.

NFT Taxation

North Macedonia has not issued specific guidance on NFT taxation as of 2026. 

In the absence of dedicated rules, the general principles applicable to other digital assets under the Personal Income Tax Law would likely apply. NFTs held as investments and disposed of at a profit would be subject to the 10% capital gains tax rate. NFTs created and sold in the course of a business or professional activity would be treated as business income, taxable at the same 10% rate.

For VAT purposes, the position on NFTs is less clear. While crypto-to-fiat exchange transactions are treated as VAT-exempt by analogy with the ECJ’s ruling in Case C-264/14, NFTs representing unique digital items may be treated differently, particularly where they confer rights to specific goods, services, or content. Businesses creating and selling NFTs at a commercial scale should consider their VAT obligations carefully.

Taxpayers engaged in NFT activity should apply the general digital asset principles described above and seek professional advice where their NFT activities are substantial.

Reporting Requirements

Taxpayers in North Macedonia report capital gains and income from cryptocurrency through their annual personal income tax return filed with the PRO. 

The annual tax return must include all sources of income, including any gains or income derived from crypto disposals, mining, staking, or receipt of crypto as payment. All amounts must be expressed in Macedonian denar (MKD), converted at the exchange rate applicable on the date of each transaction.

The PRO is the primary administrative body for tax collection and enforcement. As of 2026, North Macedonia does not operate a formal crypto exchange data-reporting programme equivalent to those in more developed crypto tax jurisdictions, but the Law on Financial Supervision of Crypto Assets (2022) gives regulators tools to engage with registered crypto service providers operating in the country.

Taxpayers are required to retain records supporting all reported transactions, including exchange confirmations, wallet histories, and evidence of acquisition costs and disposal proceeds. Records should be retained for the general statutory period applicable to tax matters in North Macedonia, which is typically five years.

Penalties

North Macedonia’s tax administration framework provides for penalties for failure to file tax returns on time, failure to report income, or underreporting of taxable amounts. Penalties are assessed as a percentage of the tax shortfall and may vary depending on the nature and gravity of the non-compliance. Interest charges accrue on unpaid tax from the original due date until full payment is made.

The PRO has the authority to conduct audits and can assess additional tax, penalties, and interest where undeclared income is identified. Deliberate non-disclosure of income, including crypto income, is treated more seriously than inadvertent errors, and can attract elevated penalty rates.

Taxpayers who identify errors in previously filed returns or who have not previously declared crypto income are generally better placed by making a voluntary correction before an audit is initiated. 

As of 2026, the PRO has not published a dedicated voluntary disclosure programme for crypto specifically, but the general provisions of Macedonian tax administration law support the principle that proactive correction reduces exposure to the full penalty framework.