New increase of taxes for businesses

New increase of taxes for businesses

The Law Commission presented the bill which predicts an increase of annual taxes for businesses. According to the scheme, the annual tax will be 25.000 ALL for all businesses that declare an annual turnover 0 to 2 million ALL.

For businesses who exceed this amount of turnover and declare it to be 2 to 8 million ALL per year, the tax is predicted to be 7.5% of the annual profit.

A recent report by World Bank suggested that Albanian government should increase VAT tax for businesses and coorporations since the VAT is applied only for the 53% of consumption.

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