Albania and Switzerland to cut double taxation

Albanian and Swiss governments amended the signed agreement which levies the tax on the same declared income, asset or financial transaction. The agreement was amendment after adding a new article which gives the fiscal authorities the possibility to exchange information. The agreement was signed by the Swiss State Secretary Georges Martin and the Albanian vice Minister of Foreign Affairs, Odeta Barbullushi.

Experts say that the exchange of fiscal information between the two countries is expected to strengthen the economic ties and is beneficial for Albanian and Swiss businesses as well. The Swiss government is one of the biggest donators in Albania which finances projects in the energy sector, healthcare and water supply systems.

Lately, the Swiss government approved a grant of EUR 6.6 million for the gasification process of Albania in the framework of TAP project implementation in the country. TAP is one of the most ambitious European projects in the energy field which will transport gas amounts from Azerbaijani fields to Western European countries, including Albania.

News source: Top Channel
Photo credits: Pixabay