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New building tax law due by 2024, but comes into effect in 2026

2023-12-26 11:16:43Biznes SHKRUAR NGA REDAKSIA VOX

New building tax law due by 2024, but comes into effect in 2026

While it was launched for consultation this summer and is expected to enter into force in January 2026, it appears that the new real estate tax will be ready by 2024. This is reported by the Council of Ministers in the document newly approved reforms that are reported in the framework of membership in the European Union.

"The new law "On the tax on real estate" and the corresponding by-laws prepared and approved in order to improve the income from this tax - until the end of 2024", the Government document states. In the following, the alignment of the Albanian tax legislation with the EU directives in the framework of Albania's membership in the EU is foreseen.

The draft law "On real estate tax" introduced in August by the Ministry of Finance and Economy is expected to increase the building tax liability for apartments from 18 to 50% and for shops up to 25%. The draft is still in the consultation phase and is expected to enter into force from January 1, 2026 for buildings, while for the categories that include plots, agricultural land and land from January 1, 2028.

The new draft law not only increases the tax level, but also changes the methodology for calculating the average prices for all categories of real estate, this is intended to be closer to the market value. The draft proposes that the tax level for residential category buildings varies from 0.1% to 0.2% from the current 0.05%, for commercial buildings from 0.15 to 0.25% from 0.2 %, which is also for agricultural and industrial buildings, the tax level varies from 0.15 to 0.25%.

The tax for all categories of real estate will be calculated on the new value of the property. The value will be determined on a new map with average reference prices, but separated for residential building units, service, as well as average reference prices of plots, including land, agricultural and forest land.

According to the tax reform document, for the plots it will be the State Cadastre Agency that will prepare, in accordance with the legislation in force, the value zones and the reference prices. While the General Directorate of Property Tax will determine the value zones and reference prices for building units, as well as the estimated values ​​of real estate.


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