Reduce of VAT for businesses that export over 50% of their products

Minister of Agriculture, Edmond Panariti announced new rules according to which all businesses that export over 50% of their products, will be able to purchase without VAT, in the same way as a year before.

During the presentation of the fiscal and customs system in a meeting with business representatives, he stated that this package predicts the equalization of VAT at 20% regarding to the purchase and the sale of agricultural products. This package aims to facilitate the import of animals an to equalize the import of agricultural machineries as for individuals and businesses too.

Part of the package are also the cut of environment tax for the fuel of fishing vessels and the supplying of fishing vessels by providing them untaxed fuel. Regarding agriculture sector, this package supports priority sectors  of agriculture and aims to strengthen the control over quality of products and food safety.