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Albania

Albania: Application of Penalties for Fiscalization is Postponed

The Fiscalization Reform, that started to be implemented in Albania since January 1st, 2021, for taxpayers who have direct commercial relations with state institutions, has also started officially to be implemented on taxpayers who conduct cashless transactions between them from July 1st, 2020.  Through the approval of…

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Albania

“Moody’s” Affirms Stable Rating for Albania

In its most recent analysis, dated on May 21st 2021, the international rating agency “MOODY’S”, evaluates Albania as a country with stable prospects and affirms Albanian Government’s B1 rating. The decision to confirm the rating according to “MOODY’S” is based on Albania’s resilience to…

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Albania

Albania: Extension Deadline to File Annual Personal Income Statement

Through a normative act, the Council of Ministers of the Republic of Albania has approved the decision to extend the deadline for submitting the annual statement of personal income by two months ergo the payment of tax liability (if any tax liability arises from the…

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Albania

Albania: Official Notice on Deregistration of Fiscal Devices

Following the Fiscalization Reform which has officially started in January 2021, the General Directorate of Taxes of the Republic of Albania has issued an official announcement according to which:  “All the entities that have started issuing electronic invoices for cash transactions from a…

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Albania

Albania: New Fiscalization Tax Reform Requires e-invoicing

As of January 1st, 2021, pursuant to Law 87/2019, the tax system reform “On electronic invoicing and turnover monitoring”, has officially entered into force in the Republic of Albania. The law amends all transactions occurring within the Republic and includes the reporting technicality to the tax authority as well as the application for electronic…

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Albania

Albania: Registration of Beneficial Owners

In June 2020, the Albanian Parliament approved Law 112/2020 On the Register of the Beneficiary Owners. The law has created an electronic register that will comprise the list of the individuals that are the direct or indirect owners or have the decision-making…

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Albania

Overview of 2021 Albanian Tax Legislation Revamp

Recently, the Albanian government has published certain changes to the tax legislation which are effective as of January 1st 2021, affecting a wide range of taxes. Increase of the VAT threshold According to Decision no.576 dated July 22th, 2020, published…

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News-Albania

COVID19 Government Measures in South East Europe and the Middle East (SEEME)

100 years after the Spanish flu, a new pandemic strikes the world, impeding free movement, considerably slowing down the world economy as well as seriously restricting the rights of the population. We are living in unprecedent times. It is becoming…

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News-Albania

Latest Changes of the Albanian Income Tax Law

At the end 2019, the Albanian Government proposed a draft law to the Albanian Parliament, introducing several changes to the Income Tax Law. This draft law was approved by the Albanian Parliament during December 2019. While the changes do not…

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News-Albania

DOUBLE TAX TREATY BETWEEN ALBANIA AND SAUDI ARABIA

Albania has signed double taxation agreements with many countries, in order to ensure that tax on income is not paid twice. The latest agreement of this kind is the one concluded between the Republic of Albania and the Kingdom of…

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