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Taxes correct the prepayment of tax installments to the free professions

2024-05-31 10:38:19Biznes SHKRUAR NGA REDAKSIA VOX

Taxes correct the prepayment of tax installments to the free professions

After numerous debates caused by the incorrect implementation of the "Income Tax" law, the tax administration has revised down the tax prepayment installments for the self-employed.

In the notices sent on May 28 by the Regional Directorate of Tirana, it appears that for the calculation of the tax for the month of May and the months of June-December, the 30% expenses, provided for in the law for the self-employed with a turnover of up to 10 million ALL, have been deducted.

The deduction of a priori expenses was not applied in the calculations of tax prepayment with the previous notices, sent in April to businesses. Taxes for the prepayment of tax installments are based on the declarations of businesses, where most of them had declared low expenses, due to their lack of familiarity with accounting documentation.

After the correction, the prepayment installment for the month of April remained unchanged. While the obligation for the month of May and other months is between 27-34% lower.

"Notice of assessment for tax on the corrected profit for the period of 9 months (April-December)

We inform you that from the review of the data we have in support of Article 63 "Prepayments", point 2 of Law No. 29/2023 "On income tax" as amended as well as Instruction no. 26, dated 08.09.2023, revised profit tax for the 9-month period (April-December) for the year 2024 will be for the total amount of ALL 663,680, divided into months as follows", says the notice of the tax administration sent to a subject as a free profession.

The above taxpayers from ALL 102,059 calculated prepayment installment for the month of April for the month of May, after the correction, 30% of the tax liability has been deducted. The tax installment for the month of May for this business will be ALL 70,200. For the following months from June to December, the tax prepayment installment is in the amount of ALL 70,203.

For another self-employed business in the total amount of calculated liability of 343,626 ALL, the tax installment from 52,001 ALL for the month of April, for the month of May is 36,454 ALL (reduction of the liability of about 30%). For the months of June to December 2024, the prepayment installment obligation is ALL 36,543 every month.

Even in the "Notice of assessment for tax on the corrected profit for the period of 9 months (April-December)" sent another business has been revised with deduction of the obligation for the month of May and the following.

Referring to the notification of the Regional Directorate of Tirana sent to this business with the total prepayment obligation in the amount of 602,686 ALL. The tax liability for the calculated month is ALL 95,593. for the month of May, the tax liability was corrected with a reduction of about 34% in the amount of 63,384 ALL. While for the months of June to December 2024, the obligation of the prepayment installment is 63,387 ALL every month.

The deadline for payment is respectively June 30 for the months (April, May, June); September 30 for the months (July, August, September); December 31 for the months (October, November, December). Installments can also be paid on a monthly basis, no later than the 15th of each month.

The calculations of the tax administration for the prepayment of the profit tax of 2024 for the free professions supported by the declarations for 2023, were sent to the businesses on April 11. In the new law "On income tax", a 30% deduction of fixed expenses is foreseen for the self-employed with an annual turnover of up to 10 million lek, but with the calculations for the simplified tax prepayment by the tax administration, the deduction was not taken into account of expenses 30%, but those expenses declared by the business.

Why were businesses not initially deducted 30% of expenses?

In the new law "On income tax", a 30% deduction of fixed expenses is foreseen for the self-employed with an annual turnover of up to 10 million ALL.

In January of this year, after it was not possible to prepare the new income declaration form, the government approved a normative act in the new law "On income tax" which determines that the income declaration will be made according to the model of the old forms, i.e. the existing ones, but according to the new tax rates that start implementation from January 1, 2024 with the self-employed of free professions.

As a result, the declaration of income will be made according to the model of the old forms, i.e. the existing ones, but according to the new tax rates that start implementation from January 1, 2024 with the self-employed of free professions.

In the notification of the initial assessment of the regional tax directorates sent to businesses, it appears that the 15% tax rate for profit tax was calculated based on the income, expenses and profit declared by the entities themselves for 2023 that were included in the new regime, before exempt from taxation.

Taxes clarified that their deduction will be made based on the applications of self-employed businesses at the end of 2024, after completing the form for choosing the special regime.

This caused the installments to be high, causing dissatisfaction and complaints from the freelancers.

 

Taxes correct the prepayment of tax installments to the free professions

 

Taxes correct the prepayment of tax installments to the free professions

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