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Fiscal Package of 2019, to help improve the business climate

Fiscal Package of 2019, to help improve the business climate

The 2019 Fiscal Package, proposed by the Minister of Finance and Economy, is in charge of the economic development and improvement of the business climate for small enterprises, the energy sector and agrotourism.

Approximately 90% of active enterprises in the country will pass into the Zero tax, or at 1/3 of what is masked so 15 percent of the profit tax. Also, it will also change bundles for businesses with 8 to 18 million Lek turnover, will benefit a significant reduction in profit tax from 15% to 5%.

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Reducing the fiscal burden directly benefits the energy sector, facilitating investments in the solar energy field. To encourage the energy sector, the government exempts from VAT a list of equipment, provided that the minimum investment conditions are met. According to Minister Ahmetaj is introduced a very large range of technological lines, which will benefit from VAT exemption.

While the third sector that will benefit from the facilities is agriculture and tourism. Ahmetaj said that this package will help you and businesses that are licensed and operating in the field of agro-tourism. Arben Ahmetaj: “There is a very clear definition in a government decision about what” agro-tourism “means. What does agrotourism mean, what is the definition of a company in agri-tourism and here we reduce for all that will be within the definition of this government decision will benefit a reduced profit tax rate from 15% to 5% also ” .

Also, the VAT Law will be affected, so the draft law “On Amendments and Supplements to the VAT Law” aims at a reduced rate of VAT of 6% for accommodation, food or other activities approaching the subject of licensed agritourism.

News Source: AIDA

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