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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

The Albanian Institute of Statistics published recently a report on the number of newly 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...

Albania Solves Disputes with CEZ Company
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Albania Solves Disputes with CEZ Company

The Albanian government ended the disput with the Czech state-owned company, CEZ, after signing a settlement agreement.  In 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 mismanagement of CEZ Shperndarje...

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

The Albanian Council of Ministers has defined new rules about the selling or the privatization of objects and land banks, owned by the state. The decision sets new criteria and procedures for the selling of lands of enterprises or objects that have been privatized before or constructed based on construction permits. This regulation defines the...

$20 ml investment project in Bulqiza mining started
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$20 ml investment project in Bulqiza mining started

AlbChrome company started its project in the deepening of the pit number 9, in the chrome mining of Bulqiza, an investment of 20 million dollars. This investment will make possible the utilization of 2.126 800 chrome geological reserves. The beginning of this investment for the deepening of pit number 9, also called one of the...

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 in 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 29percent on an annual basis in the January-April period during 2014, compared to the same period...

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 the education and vocational training system in a short time. During his stay in Germany, the 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...