Large businesses oppose government’s decision to cut taxes for small businesses

Tirana, November 26, 2015

The Albanian Kofindustria organization has opposed the government’s latest decision to cut taxes for small businesses by claiming that such policy has put under pressure large businesses. Such measure cannot be applied in the current economic situation of the country.

The head of the Albanian Konfindustria, Gjergj Buxhuku declared in a press interview that given the current tax scheme which excludes small businesses from the profit tax, large businesses will tend to split apart into small businesses. In order to avoid taxes, investors will not have interest to open large businesses in Albania, according to Buxhuku.

Albanian Konfindustria is an independent, non- political, non- profit organization, a voluntary gathering of businesses with different profiles that are currently operating in the Albania’s territory since its came into being on 11.11.2005.

On November, the government decided to reduce to zero the tax on profits for small businesses with an annual turnover no more than ALL 5,000,000 and to reduce taxes for businesses with an annual turnover of ALL 5,000,000 – 8,000,000.

News source/photo credits: Scan TV