New Date on Fiscalization Enforcement

New Date on Fiscalization Enforcement

TIRANA, October 24

Fiscalization will come into effect on January 1st, 2020, but proper implementation will start on April 1st. Minister of Finance and Economy, Anila Denaj said during a hearing session held on Thursday with business representatives. The months between will serve as a trial period.
Denaj explained that the ministry shares the same concerns with stakeholders regarding the enforcement of the fiscal law since January as it would be too early.
Hence, the bill that is currently under consultation with line ministries, includes a three month-transition period for the system assurance and implementation.
Consulting sessions on Fiscalization started in August. The fiscal law in general aims to control the grey economy, avoid retailer fraud, to include tax evaders in the system, ease inspections, and cut on corruption.
According to the Minister of Finance and Economy, a comprehensive e-invoicing system will be completed by 2021.

On its part the General Taxation Directorate highlights the key points of the fiscal law:
No new taxes
Reduce the grey economy, consequently, reduce taxes
Tax evaders are stealing from all
Nothing will change for existing regular taxpayers
Removal of non-payers
Modern businesses

Source: Monitor

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