Four‑year‑old becomes youngest millionaire after bank dividend

A four‑year‑old child is the youngest millionaire in the country after receiving more than one million denars in dividend payments from a domestic bank, while the oldest reported millionaire is 97 years old and combines pension income with other sources, according to an analysis by the Tax Administration (UJP) for last year.

In 2025 the Tax Administration recorded more than 860,000 tax returns filed — over 10% more than in 2024. The highest single gross salary paid was reported in the stone and coal extraction sector and amounted to nearly €190,000, but the three largest dividend payments last year exceeded that salary level. Those large dividends were paid by companies based in Gevgelija, Ohrid and Arachinovo.

The UJP also found that the single highest personal income last year was declared by a person from Gevgelija, who reported income of more than €4 million from wages, rental income and dividends.

Why the data matters

"They are the basis for better monitoring of the effects of tax policies, assessment of tax risks and uncovering possible cases of incorrect or undeclared income," said UJP director Elena Petrova, explaining the practical purpose of publishing the analysis.

Regarding VAT refunds for this year, the Tax Administration reported that as of the end of September companies had outstanding claims for VAT refunds totalling €450 million, while €484 million had already been paid out. Public discussion had suggested delays of several months in some refunds; the UJP says that where controls are necessary the payment process can be extended.

"There is a legal deadline of 30 days after filing the refund request, and the procedure takes longer when cases are selected based on risk analysis and we need to check them further," Petrova added. The UJP also emphasised that the reduced VAT rate on fuels — from 18% to 10% — does not automatically mean lower VAT revenues for that category, because outcomes depend on sales volumes and prices; a clearer picture should emerge once the final quarter is complete.

Report: Irena Chachkova.

Photo: press material from the event