VAT in Albania will change in various aspects and will provide many facilities after being implemented, starting from January 1st, 2015, announced the Tax Administration.
The latest law amendments aim to create a fair tax system which will be on service to all tax payers, through the increase of the capacities and quality. The law will be comprehensive and its articles support highly businesses and taxpayers.
Tax Administration declares that the new regulations of the VAT law will provide uniformity in the application of the VAT, aiming to unify the tax system with the one of the EU member states, fair competition and equal condition and also the stimulation of merchandise and services circulation. The implementation of the new law will avoid the double taxation of VAT for transactions of businesses in Albania and those in the EU member countries.
Starting from January 1st, merchandise and services upon which VAT is applied will be defined in details in order to avoid uncertainties and also the reduction of costs for businesses which now can deduct promotion expenditures from the VAT paid for buying. VAT will be excluded for gifts up to a ceiling value including even goods gifted to businesses in order to boost their activity.
News source/photo credits: ATA
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