The Albanian Minister of Finance presented the Fiscal Package of 2022 during the Parliamentary Assembly on Economy and Finance. The main laws that will be affected by the changes included in the fiscal package of 2022 are on income tax; value added tax in the Republic of Albania; excises in the Republic…
Pursuant to Fiscalisation reform for the declaration of business-to-business and business-to-consumer transactions, the General Directorate of Taxation has informed all taxpayers (subject to VAT) that the submission of VAT return sheets and sales and purchase books for the periods until December 2021, will continue…
A few days before the deadline for declaration of monthly ledger books and VAT balance, the Tax Administration has reminded the taxpayers subject to VAT about the correct manner of reporting the sales and purchase books as well as VAT return…
“Fitch Solutions”, a well-known unit of the international rating agency “Fitch”, published the latest risk report for the second half of 2021 for Albania. In this report, the forecast for the growth of Albania’s Gross Domestic Product (GDP) for 2021…
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…
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…
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…
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…
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…
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…