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Albania: Visa friendly policy

Albania

Albania: Visa-friendly Policy for Digital Nomads

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…

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Albania: Changes for Self-Employed Pensioners

Albania

Albania: Favorable Changes for Self-Employed Pensioners

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….

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Automation of Tax Declarations

Albania

Albania: Automation of Tax Declarations

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…

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New law regulating fiscal burden of employees

Albania

Albania: New law regulating fiscal burden of employees

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…

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Albania: Changes in Labour Law

Albania

Albania: Changes in Labour Law

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%…

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Albania: Maximum amount of petty cash

Albania

Albania: Maximum amount of petty cash allowed for business entities

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…

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Albania fiscal package 2023

Albania

2023 Fiscal package brings important changes in Albania

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…

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national minimum wage

Albania

Albania increases the national minimum wage

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…

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Albania: Financial Statements

Albania

Albania: Deadline Extension for Financial Statements

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…

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Albania: Financial Statements

Albania

Albania: Small entities obliged to submit Financial Statements

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,…

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