The new tax package is an opportunity to attract investors

The new tax package is an opportunity to attract investors

Representatives of economic associations in Kosovo have expressed the urgent need to finalize the new tax package, which among others, also includes tax exemptions and the enlargement of the list of raw materials exempted from customs taxes.

According to the head of the American Chamber of Commerce, Arian Zeka, these two points must enter in force as soon as possible in order to enable a favorable climate for investors.

“What we must see now is prompt action by institutions of Kosovo. This package must also be approved by the government of Kosovo and it must be promoted to businesses in order for them to benefit from it”, Zeka said.

As far as tax exemptions are concerned, two years ago, the government of Kosovo decided to exempt from taxes all new investments for a period from three to seven years. But such decision had never entered in force and this didn’t allow investors to see Kosovo as an attractive country to invest in.

The drop in foreign investments was evident last year.

Figures from the Central Bank of Kosovo indicate that until the month of September 2016, foreign investments amounted to 184 million euros, while in 20154, they were 320 million euros.

Several days ago, economic organizations and the Ministry of Finance have drafted a new tax package for the improvement of the business climate.

Minister of Finance, Avdullah Hoti said that one of the main objectives of the Ministry of Finance for 2017 is the new tax package. /