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Investments in the tourism sector and fiscal facilities

Investments in the tourism sector and fiscal facilities

Yesterday, the launch of the project “PAST4Future – Promotion of Accessible and Sustainable Tourism” for the future was launched, which is implemented by partners from Italy, Albania, Montenegro, under the chairmanship of the Ministry of Finance and Economy. 

The objective of this project is to promote and strengthen accessible and sustainable tourist offers in cross-border areas at European and international level, through the implementation and diversification of products and services.

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Considering the tourism sector’s priority, the Ministry of Finance and Economy has taken the initiative to provide fiscal facilities for the accommodation structure and favoring entrepreneurship in the tourism sector. By law 71/2017, adopted in April last year, the application of the reduced rate of Value Added Tax 6% was introduced. Meanwhile, Law 105 on “Incomes” for a period of 10 years has been exempted from Taxation for specific accommodation structures, such as resorts with 4 and 5 stars.

Minister Ahmetaj in his speech stressed also the exclusion from the infrastructure tax within the promotional package for investment in tourism, which has brought a considerable and serious relief to investors in tourism.

Following the speech, Minister Ahmetaj announced the project in southern Albania, namely an accommodation facility, which will soon go to the Strategic Investment Committee at the Council of Ministers.

News Source: AIDA

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