IT-nomads represent the future and offer significant potential to Albania. These young individuals either working for foreign companies or as freelancers may see Albania as a beneficial place to develop their activity. From July 2023 foreigners employed in the information…
The Albanian government has approved additional changes in the law for compulsory social security contributions affecting people who have reached retirement age but continue to work registered as self-employed. Those people will no longer pay for compulsory social security contributions….
The Ministry of Finance announced the automation of the monthly declaration of ledger books in the tax system. March 2023 has marked a substantial progress in the automation of the financial procedures in Albania. The process of monthly declaration of…
A new law on Income Tax was recently approved in Albania aiming to reduce fiscal burden for all employees and provide a fairer and universally accepted tax system. As of 01 June 2023, and until 31 December 2023 non-taxable income…
Another change in the minimum wage which will be applied to all employed and self-employed citizens within the country, was recently decided in Albania. The new minimum salary, starting from April 2023, will be 40,000 ALL. This increase of 17%…
A new version of the existing law on Tax Procedures was recently published by the Ministry of Finance in Albania. According to the latest changes, every business that operates with cash transactions is obliged to deposit in its bank account…
In the framework of the 2023 fiscal package, the Ministry of Finance has announced several draft laws that will enter into force during the coming year, affecting some of the most important taxes in Albania, such as, Income Tax, VAT…
Only a few months after the government’s decision to increase the minimum wage in Albania, the Council of Ministers has decided on a further increase. Starting from September 1st, 2022, the minimum wage in Albania will be LEK 34,000. This…
The Ministry of Finance announced the postponement of the deadline for submitting financial statements to the National Business Center. The annual deadline for submission was the end of July, but this year marked fundamental changes on the process of invoice…
Through the latest ministerial order, the Ministry of Finance has announced the change of National Accounting Standard no. 15, which affects all business units classified as “micro entities”. Specifically, starting from the financial period which begins on January 1st, 2022,…