The purpose of this study is to examine the accounting versus taxable profit for selected firms. Totally nine firms are examined for the period 2010-2014. Selected firms are indexed on Macedonian Stock Exchange Index - MBI10 and belong to different industry sectors. Selected firms are the most liquid on Macedonian Stock Exchange, have better business performance and financial statements are prepared in accordance with IAS and IFRS. The analysis is focused on effects of additional fiscal costs (firm income tax) to net profit (loss). The analysis argues that despite the fact that formally Macedonia ranks among the countries with lower fiscal burden of 10% tax (personal income tax and profit tax), the level of real fiscal cost is much higher and very asymmetric. This additional fiscal cost and this fiscal asymmetry is the result of the fact that the law on profit tax in whole or part taxed in additional way 25 types of operating expenses which are considered irrelevant; and even these costs exceed the minimum limits set by the government of the country. In the case of Macedonia, fiscal provisions of the law on profit tax affect illogically situations that even firms operate with loss they should pay income tax; and consequently, this increase the business loss on one hand and decrease the economic and financial performance on the other hand.