Govt Adopts Taxation Exemptions for Major Hotel Investments

TIRANA, November 13

The Council of Ministers adopted during its last meeting the draft law on some additions and changes to the law On Tourism regarding the criteria that four and five-star rated hotels must meet in order to obtain a special status.
According to the draft law, the subjects that will benefit fiscal stimulus are four-star hotels with a minimum investment estimated Euro 8 million and five-star hotels with a minimum investment estimated Euro 15 million.
According to the decision, the special status will be granted by the Ministry of Economy. Meanwhile, the other procedures and the documents that the subject must submit in order to apply for “special status for an investor in a four or five-star accommodation facility” are defined by the Council of Ministers.
According to the new fiscal package, special status hotels will benefit tax exemptions for a period of ten years while five-star hotels will not pay the infrastructure tax.

News Source: kryeministra.al

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