New Bill to Make Businesses to Open Banking Account

TIRANA, June 5, 2019

All of the businesses with an annual turnover of 2 million Leke (Albanian currency) might have to open a banking account in the future, otherwise, they will be fined. The new bill proposed by the government was approved from the parliamentary committee of the economy and now it is expected to go to its next step, that to be approved by the parliament too.

The government had proposed fines for businesses without banking accounts to range from 50.000 to 100.000 Leke. But with the proposition of Arben Ahmetaj, the chief of the parliamentary committee of economy, they were halved.

According to the bill, for businesses with an annual turnover from 2 million to 8 million Leke, the fine for not opening a banking account will be 25.000 Leke. For those with annual turnover, over 8 million Leke, the fine will be 50.000 Leke, and for not-for-profit organizations, the fine is expected to be 37.500 Leke.

According to the government, the obligation for all of the businesses to open a banking account is a requirement from the European Union, in order to fight the money laundry and informality in the economy.

Source/ Top Channel T.V.