Albanian government submits the 2018 draft budget

Albanian government submits the 2018 draft budget

The Albanian government has submitted to Parliament next year’s draft budget, accompanied by the tax package that goes with it.

According to this package, starting from 1 January 2018, Albanian citizens will face a property tax based on the real value of their homes.

On the other hand, the tax package also includes the reduction of several customs charges applied on import, relating products used in the domain of information technology and a reduction of VAT to 6% for 5 star hotels.

Meanwhile, the debate on the introduction of small businesses in the VAT scheme seems to have come to a solution, by including only 9 thousand businesses in this scheme, with annual turnover of up to 2 million lek. Meanwhile, 61 thousand businesses with a turnover lower than this, will be exempted from this scheme.

Another important element of the 2018 draft budget is the one for the acceleration of economic growth up to 4.5%, but also the efforts to reduce debt by 2.5% compared to 2017. /