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From 2024, the government plans to eliminate reduced rates and tax exemptions. Who benefits?

2023-12-07 10:34:43Biznes SHKRUAR NGA REDAKSIA VOX

From 2024, the government plans to eliminate reduced rates and tax exemptions.

The government foresees that in the next two years, in the fiscal framework, some reduced fees, exemptions from direct taxes and those exemptions that did not have the expected effect will be eliminated. In an official document on the compatibility of Albanian legislation with European Union directives, it is acknowledged that harmonization is a constant challenge that also requires an increase in the operational capacities and computerization of the tax administration, which affects its efficiency.

In this context, the document clarifies what Albania's priorities and plans will be until 2030 for the alignment and fulfillment of the European Union criteria in terms of taxes, and it seems that one of them has to do with tax exemptions.

"Based on the Medium-Term Revenue Strategy, the Ministry of Finance and Economy has drafted and initiated the review of reduced rates and exemptions in tax laws, which increase the volume of "tax expenses", in this context:

During 2024 and beyond, changes will be approved for the elimination of reduced fees and exemptions in direct taxes.

During the year 2025 and following, the current exemptions in the field of value added tax will be reviewed, with the aim of eliminating the exemptions that have fulfilled their mission, or that have been unsuccessful during implementation and have not given the expected effect" it is stated in the government document.

Exemptions from direct taxes or from Value Added Tax have been criticized from time to time by international institutions considering this as a problem that makes it more difficult to collect income and makes it easier for evasion.

Over the years, the governments' fiscal packages have provided for exemptions mainly for VAT but also for direct taxes. Such were earlier VAT exemptions for energy investors, then a full exemption was for investors with a special status in tourism and bringing an international hotel brand something that still continues.

The latter is one of the most criticized policies because it has been labeled in many cases as a form that has been used by builders to avoid paying taxes on constructions that are not intended for tourism. Exceptions meanwhile are numerous over the years and affect a number of sectors.


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