Introduction:
This October 20th deadline is crucial for businesses in Albania! The Albanian General Tax Directorate mandates declaring official addresses, including primary and secondary locations, through the tax declaration portal.
What’s New?
Starting October 2024, businesses must provide detailed information about their operating addresses:
- Square meters of each environment
- Purpose of each environment
- Rent price (if applicable)
- Landlord’s ID or NUIS (National Unique Identification System)
- Certificate of ownership (if owned)
- Rent agreement or right of use agreement (if rented)
Benefits of the Reform:
This reform goes beyond maintaining an updated database of entity addresses. It aims to:
- Formalize Rent Transactions: Improve transparency in rental agreements between entities and landlords.
- Enhance Withholding Tax Efficiency: Identify transactions subject to withholding tax and ensure accurate declaration and collection.
Consequences of Non-Compliance:
Delayed declaration under Law No. 9920 “On tax procedures” can result in penalties of up to 15,000 ALL (Albanian Lekë).
Eurofast’s Support:
Eurofast’s Albanian team is here to help! We offer:
- Compliance Assistance: Assisting clients in fulfilling the declaration process on time.
- Domiciliation Services: Providing registered office addresses for new businesses in Albania (Eurofast Tirana office).
Contact Us:
For further inquiries or support, reach out to Eurofast’s Albanian team at tirana@eurofast.eu.