Transfer of ownership, Defects: Reference depreciation 1 percent every year, we review the prices on the coast

2024-01-05 13:38:37Biznes SHKRUAR NGA REDAKSIA VOX

Transfer of ownership, Defects: Reference depreciation 1 percent every year, we

The Ministry of Finance and Economy has drawn up an instruction which establishes a new rule regarding the taxation of the transfer of ownership, according to which the reference prices will be amortized by 1% per year depending on the age of the building.

"Within the "Income Tax" law, a new instruction has been drawn up, regarding the taxation of the transfer of ownership, where we found it appropriate to establish a new rule, based on which the reference prices will be amortized with 1% per year depending on the age of the building", said the Minister, while adding that during this year there will be a review of reference prices in coastal areas as well.

The Albanian economy will expand during 2024, supported by the increase in domestic demand, the further development of tourism, as well as the good performance of the construction and energy sectors. Growth is expected to be at least at the levels of 2023, or even higher and balanced with the expected turn of the world and European economy, Mete declared at the conference where he presented some of the main economic achievements and developments for 2023, such as and forecasts for the current year.

The minister emphasized that further economic growth will be supported by the 2024 budget, which foresees 7 billion euros in planned public spending, a reduction of the public debt below the 60% level and over 634 billion ALL in tax revenue.

During the year 2024, the salary increase in the public sector will continue, where in the first months of the year the decisions specifying the increase for all categories, for general doctors, nurses and other health workers, teachers in pre-university education will be finalized , law enforcement, defense forces and employees of the enforcement levels of the administration.

"For all these categories, from the middle of 2024 there will be a significant increase in salaries, with the aim of reaching the average salary of 900 Euros in the public sector within this year. In total, the annual effect for the financing of the salary reform is calculated at nearly 40 billion ALL, or 400 million Euros, and it is predicted that the growth will continue further, to support quality employment and to reach among the most competitive salaries in the region. We believe that this increase in wages will increase competition in the labor market, encouraging the increase in wages in the private sector", said the Minister.

Focusing on the year 2023, Minister Mete said that the past year was a positive year for the country's economy and finances, where the end of the year was calm in terms of facing a series of events and crises that the economy has gone through in the years recently, while assessing that the economy is entering a new phase of development.

The minister said that the economy of Albania was evaluated by the IMF and the World Bank as one of the most resistant economies and the most positive performance in the region, with expectations for further growth, while Standard and Poor's revised the country's outlook upward from stable to positive, once first after 7 years. On the other hand, the country came out of the gray list of FATF/MONEYVAL, as a result of the progress made by our country in implementing the recommendations.

The minister emphasized that the economy is entering a new phase of development, after a successful tourist season with over 10 million foreign visitors, where it is estimated that for the first 9 months of 2023, the inflows into the country from tourism have been nearly 3.2 billion Euro, the highest figure ever recorded.

On the other hand, foreign direct investments have had an upward trend, closing the nine months of 2023 at the level of 1.1 billion Euros, with an increase of 10.6% compared to the same period of 2022.

"As a result of the improvement of the trade balance, income from tourism and foreign direct investments, there has been a significant improvement of the external balance. The current account, the result of all the country's trade and financial relations with the outside world, has approached historic lows at around 5% of GDP from over 10% for a long period. Inflation has come down, after a peak, which was again significantly lower than the countries of the region and lower than the European average. Our expectation is that inflation will return to the target within this year", said the Minister.

Following his speech, the Minister stated that the collection of income has had a good performance, being realized significantly above the expectations of the beginning of the year and in line with the increased plan according to the Normative Act, while unemployment has decreased to levels of historical lows of 10.5% and the tendency is for a further decrease below 10% in the following periods. These data, the Minister emphasized, are encouraging to continue the reforms, with a focus on the further reduction of unemployment, especially for women and young people.

 

 


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