Fiscal Incentives for Strategic Investors, Qato Says

TIRANA, October 31

All the investors that will obtain the Strategic Investor status will benefit income exclusion, reduced Value Added Tax (VAT) to six percent and infrastructure tax relief. These are a few of the facilitation measures that the Albanian government will undertake in order to attract more foreign investments. They were announced by the Minister for Entrepreneurship Protection, Sonila Qato during an event with Italian investors.
Qato invited all the major Italian investors to try the new conditions that Albania offers for those that want to invest in the tourism sector.
“We propose the exemption of the corporate income tax for a period of ten years for all the subjects that will invest in four and five-star hotels that currently are not offered by the Albanian tourism offer,” Qato said.
Moreover, she highlighted that the deregulation reform will be concluded within 300 days. The reform aims at improving the business climate and reducing the administrative burden.
On his part, Italian Ambassador Alberto Cutillo, who attended the event, invited the Italian investors to invest in Albania. In the meantime, the Italian entrepreneurs that are present in Albania asked from Minister Qato that more attention is paid to them too.

News Source: Scan TV

Photo Credit: S. Qato