VAT for the tourism sector to decrease to 6% or 7%

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The president of the Albanian Association of Tourism Enver Mehmeti declared in a TV interview that the government will decrease the VAT for the tourism sector to 6% or 7%, and this will be reflected in the new fiscal package for the budget 2016.

According to Mehmeti, the association has consulted with the government on this regard, and added that the decrease of VAT can be first implemented as a pilot project. Mehmeti also declared that the tourism sector has started to standardize in all its aspects.

Currently, VAT for tourism sector in Albania is ranked one of the highest in the region, at 20%. Most of the regional countries apply a VAT below 10%. The tourism sector in Albania is considered as a priority sector of the economy which brings a considered amount of revenues to the state budget every year. Lately, the government approved the new law on tourism which predicts the state will provide facilities for strategic investors, as a form to attract huge investments in this sector.

News source/photo credits: Scan TV