Albania: Application of Penalties for Fiscalization is Postponed
The Fiscalization Reform, that started to be implemented in Albania since January 1st, 2021, for taxpayers who have direct commercial relations with state institutions, has also started officially to be implemented on taxpayers who conduct cashless transactions between them from July 1st, 2020.
Through the approval of a normative act no. 27 dated 01.07.2021, “For an addition to law no. 9920, dated 19.05.2008 ‘On tax procedures in the Republic of Albania’, amended”, the Ministry of Finance has officially announced that, until January 1st, 2022, the penalties deriving from the implementation of law no. 87/2019 “On the invoice and the turnover monitoring system” will not be applied.
This decision comes as a result of the review of the effects of COVID-19 pandemic on businesses in Albania.
Considering the difficulties of the business community, such as fulfilling the obligations towards customers, suppliers and employees, challenges in the normal business flow, or risks of closing the activity, it was deemed necessary to create a regulatory framework that helps taxpayers in fulfilling their obligations deriving from law no. 87/2019 “On the invoice and the traffic monitoring system”, without being necessary to apply the administrative penalties provided by law during the suspension period.
The approach of the tax administration during this period will be oriented towards education – advising businesses on the successful transition to fiscalization, and supporting businesses to adapt as quickly and as better as possible to this new process.
For additional information, please contact our Country Executive, Ms. Drilona Likaj, at our Eurofast office in Albania via email at firstname.lastname@example.org.
Eurofast is a regional business advisory organisation employing local advisors in over 23 cities in South East Europe & the Middle East (SEEME). The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services in South East Europe & the Middle East.