Taxes in a large number of world economies represent a basic source of public revenues, and thus financing of public consumption. Depending on the economic system and the degree of economic development, the share of direct and indirect taxes in total tax revenues differs, consequently, in some countries direct taxes are a key source of financing. In developing countries, public revenues are still based on indirect taxes, but with economic growth and development, the participation rate of direct taxes is increasing. The subject of research is the comparison of revenues from direct taxes in North Macedonia and Serbia and the correlation of direct taxes with the key macroeconomic variables of the countries. The research is based on secondary methods, during which it was concluded that direct tax revenues in both countries have a growing trend of participation in total tax revenues.