Govt to Drop Profit Tax by 5% for 3 Categories
Albanian Daily News
Published May 25, 2018
The 2019 fiscal package will provide a reduction by 5% of profit tax for three business categories, aiming to improve the business-to-business climate, Deputy Minister of Economy and Finance, Elton Haxhi said on Thursday during the annual presentation of the National Business Forum.
These categories include companies with an annual turnover of Lek 8-14 million, agricultural cooperatives and agro-tourism businesses, Haxhi added.
The monitoring report of the national business agenda on information, tax control, value-added tax (VAT) and public-private dialogue was presented in the forum.
According to the figures, about two thirds of business recommendations have been taken into account by the government.
Meanwhile, informality is still a persisting problem, as the Albanian government has no figures on this phenomenon.
The forum was also attended by the Minister for Enterprise Protection Sonila Qato, who urged an increased dialogue between the entrepreneurial associations and the office she leads.
According to the findings presented in the forum, the business climate in Albania remains problematic, especially for investors.
The monitoring report on the implementation of business agenda recommendations notes that the main obstacle is the frequent change of taxation and the increase of the fiscal burden.
According to the report, the business climate suffers from errors in the implementation of sub-legal acts and procurement rules by the tax administration.
The business community demanded more stability in government fiscal policies in order to make forecasts for business plans. They also requested an increasing dialogue with the government on business policy.
The Business Forum monitoring report was based on official documents, employee and business surveys.