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The fiscal package goes to the Economy Committee/ Who are the approved changes?

2023-11-07 12:39:52Biznes SHKRUAR NGA REDAKSIA VOX

The fiscal package goes to the Economy Committee/ Who are the approved changes?

The changes foreseen by the fiscal package during the next year have been approved by the Parliamentary Committee on Economy.

Limiting the increase in excise duty, placing a ceiling of 1.5% on excise goods such as coffee, alcoholic beverages and fuel, is among the most important changes that will avoid a new explosion of price increases for these products, as the law provides that the excise tax be indexed with the inflation level of the previous two years, which for 2022-2023 has touched record figures.

As for tobacco excise, there is no proposal, as the increase is done progressively according to an approved calendar until 2026.

Facilitating changes have also been made for the livestock and beekeeping sector, as far as VAT on import is concerned.

Meanwhile, from January 1, 2024, entities that do not pay installments of corporate profit tax and personal income tax on time will face heavier penalties than they are currently. The Ministry of Finance has changed the formula for calculating penalties for these categories through some interventions in the tax procedures law of 2008.


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