No Tax Increase for 97% of Population - Says Rama
Albanian Daily News
Published October 30, 2017
The new fiscal package foresees no tax increase for 97% of the population. This declaration was made on Monday by Prime Minister Edi Rama as a reaction to the debate over the small business inclusion in the Valued Added Tax (VAT) system.
"The new fiscal package foresees only small changes in function of government's philosophy related to the country's economy. Every business whose annual turnover is lower than ALL 20 Million is excluded by the VAT scheme. VAT for the fishing sector will also be lowered fulfilling a long-time request made by those operating in this sector. The 4 and 5 star hotels that will be constructed from now on will also be excluded from the VAT scheme for a 10-years period of time since the opening day. The excise on cigarettes will also become subject to change as part of our battle against tobacco," stated PM Rama.