Tax reforms will bring new investments in Kosovo

Tax reforms will bring new investments in Kosovo

Pristina, 27 August 2015/Independent Balkan News Agency

By Elton Tota

The new tax package which is expected to be applied as of 1 September of this year, will no longer include VAT on production machinery, on raw materials and IT.

The tax package also foresees changes in tax relieves for corporations and other tax concessions for businesses that make new investments.

This was said today by the Minister of Finance, Abdulla Hoti during a meeting with the business community in Kosovo.

Hoti said that this offers concessions for businesses, but Kosovo businesses must offer their input first.

The representative of the American Chamber of Commerce in Kosovo, Ruzhdi Zeqiri, said that reliefs in the import of machinery and raw materials enable companies to invest more.

Meanwhile, vice chairman of the Kosovo Business Alliance, Suat Berisha said that this organization has great expectations from this government cabinet, therefore, according to him, this community will insist on asking for more concessions for the business community. Berisha says that in the near future, the business community will sit down and assess the shortcomings of these amendments.

Meanwhile, the head of the Tax Directorate of Kosovo, Nahit Sharku, said that this institution has made all the necessary preparations to have all procedures in place, in order for the new tax package to be applied. /ibna/