The Ministry of Finances announced by a report that the government has paid ALL 4.26 billion as outstanding VAT refund to Albanian businesses. The reimbursement of VAT is a very important factor that plays a big role in Tax Administration – businesses relations and according to Ministry of Finances’ officials, this process is undergoing positively so far.
Until June 2nd of this year, the Ministry has reimbursed the outstanding VAT to several businesses in regard to the increased volume of exports and in the meantime the volume of investments.
On January 1st of this year the government launched the new changes on VAT law which entered in force immediately. These changes foresee that the VAT will be reimbursed based on a risk analysis. According to experts, this procedure has reduced the time and bureaucracies for reimbursing the VAT to businesses.
The risk analysis and the reimbursement of VAT must be done within 60 days for random subjects and within 30 for exporters, according to the last changes in VAT law.
News source: ATA
Photo credits: Tax Credits / Flickr
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