Minister of Agriculture, Rural Development and Water Management, Edmond Panariti, has urged all producers and traders of agricultural products to obtain the tax bills of sales and every other transaction because of the adaption of VAT law, according to which, the VAT tax will be equal even on sales or buying for agricultural products.
During a meeting with heads of agricultural products associations, the Minister declared that agricultural products from now and on will be traded, exported and collected with a reduced cost at 14%, ain incentive that helps these products to have a free competition with the imported products.
“This is a very important fiscal incentive for the agricultural products, a beneficiary program for collectors, farmers, distributors and exporters. This measure will cut the main legal and fiscal barriers and this will also help in the increase of these products in the domestic markets and in the increase of exports“, declared the minister Panariti.
According to him, these measures are being taken in order to increase the formalization in this sector, and to protect the consumers by the abusive farmers. After the cut of VAT, the number of entrepreneurs registered will increase and this is a very important step to put EU standarts in the Albanian agricultural market.
The minister ended his word by saying that agricultural exports increased by 10% until the end of June, compared to the same period of the previous year, as the governmental facilities have shown their effects.
News source: ATA
Photo credits: ATA