American Chamber of Commerce demands lower taxes in 2016 in Albania

American Chamber of Commerce demands lower taxes in 2016 in Albania

Tirana, 8 June 2015/Independent Balkan News Agency

The American Chamber of Commerce demands to the Albanian government to make tax cuts in the 2016 tax package, which is being discussed with stakeholders.

President of the American Chamber of Commerce, Mark Crawford says that the tax cuts are the only alternative for Albania to boost economic growth.

By cutting taxes, he says, the country will become more attractive for foreign companies.

Mr. Crawford details the request of the American Chamber of Commerce when he says that part of the 2016 tax package must be the reduction of tax on profit and tax on personal incomes.

“This way, the environment would become more attractive for foreign companies and it would also allow domestic business to breathe”, Mr. Crawford suggests.

American Chamber of Commerce has delivered to the Ministry of Finance 21 requests for the 2016 tax package. Among others, this Chamber demands the reduction of road tax, VAT on power supply and taxes for the textile industry and other industries from 20% to 6%.

On the other hand, American Chamber of Commerce is preparing a study to propose to the Albanian government the introduction of a fixed rate instead of the current tax on earning which is 15%.

According to the American Chamber of Commerce, there have been many recent cases when investors have refused to invest in Albania due to the level of taxes.

The President of American Chamber of Commerce says that there are numerous cases of investors who have abandoned Albania due to taxes which are higher than the countries of the region. /ibna/