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World Bank report: Albania to increase VAT and income taxes
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World Bank report: Albania to increase VAT and income taxes

World Bank and IMF have proposed a new strategy for the management of public finances during 2014-2020 period. According to WB, there are several changes that should be made in order to increase the income taxes for businesses, the enlargement of the basis of VAT, changes in the excise and personal income tax. Based on...

Albanians will have to pay fees for the road maintenance
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Albanians will have to pay fees for the road maintenance

The Albanian government has sent a draft law in parliament which creates the legal basis for giving through concession the maintenance of highways and important national roads through toll payment. The Ministry of Economic Development, as initiator of this draft-law, explains that this measure is urgent due to the inadequate situation in which some roads...

IMF report: Albania’s economy performance has improved
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IMF report: Albania’s economy performance has improved

International Monetary Fund has evaluated the work done by Albania during the latest months in the fulfillments of the criterias set by this institution. After a review of the economic performance of Albaniain the March-June period, they emphasized the progress done by the country related to the structural standarts in force. The finalization of the...

Confindustria upholds VAT cut for machinery and equipment
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Confindustria upholds VAT cut for machinery and equipment

Industry representatives in Albania have upholded the decision of the Parliamentary Committee of Economy for the cut of VAT for machineries and equipments, a decision taken based on the draft projects presented by Ministry of Finances. According to Confindustria, the placement of VAT for machineries that are used in the production process, would be a...

INSTAT: Number of businesses increased even during the economic crisis
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INSTAT: Number of businesses increased even during the economic crisis

Albanian Institute of Statistics published recently a report on the number of new established businesses since 2008, the year when the Albanian economy entered in crisis. According to the report, there are about 111.000 active businesses operating in Albania, most of them established after the economic crisis started affecting the Albanian economy back in 2008....

Albania solves disputes with ČEZ company
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Albania solves disputes with ČEZ company

The Albanian government has ended disputes with Czech state owned company, CEZ, after signing a settlement agreement.  On May 2013, referring to the Energy Charter Treaty, CEZ announced an international arbitration dispute with Albania. The disagreement between the Albanian government and CEZ started back in 2013 after the citizens’ claims for a mismanagement of CEZ...

New rules for the purchase of state owned facilities and land banks
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New rules for the purchase of state owned facilities and land banks

Albanian Council of Ministers has defined new rules about the selling or the privatization of objects and land banks, owned by state. The decision sets new criterias and procedures for the selling of lands of enterprices or objects that have been privatized before or contructed based on contruction permits. This regulation defines the necessary documentation...

Albanian textile exports have increased, Poland the new destination
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Albanian textile exports have increased, Poland the new destination

Albanian textile exports are flourishing since it is noticed an increase of exports during the first month of this year. According to the official data published by INSTAT (Albanian Institute of Statistics), textile exports and their products, increased by 29% in annual basis in January-April period during 2014, compared to the same period of last...

Germany to support Albania in vocational training programme
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Germany to support Albania in vocational training programme

Germany will help Albania in the reformation of educational and vocational training system in a short time. During his stay in Germany, Albanian Minister of Social Welfare and Youth Erion Veliaj, signed a collaboration agreement with the  Institute for Education and Vocational Training in Land, Hamburg and the German office for International Collaboration (GIZ). GIZ...