TIRANA, January 28
The expected approval of a few amendments on the tax regime this Thursday by the Albanian Parliament would be a significant incentive for foreigners looking for a retirement destination where they can pay zero tax on their income.
Secondly, it would give a boost to senior tourism also known as silver tourism. People close to pension age would like to explore various options before deciding to move to a new country.
The new tax regime will include a cut on personal income tax for different categories of foreign pensioners and for citizens of Albanian origin, who are entitled to a pension in another country can be beneficiaries of the new tax regime.
According to Monitor, in order to be a beneficiary of the new tax regime, the applicant should never have been convicted in their own country or in Albania or any other country for criminal offenses for which the law provides for sentences of not less than three years of imprisonment.
Moreover, pensioners from the EU countries will benefit from a cut on personal tax upon obtaining a residency permit. Meanwhile, pensioners from other countries can benefit from the new tax regime at the moment they obtain Albanian citizenship.