What are the changes in taxes required by the business? - From the reduction of VAT for food, to the infrastructure tax in construction
At the time when the budget for 2025 is being discussed and a fiscal package has not been drawn up, the Tirana Chamber of Commerce and Industry, together with several business associations, such as that of builders, the agribusiness association; tourism; medicinal plants; the association of the food industry and that of milk processing, ask the government to review consumption taxes and customs fees.
Specifically, in the agricultural sector, a reduction of the VAT for the agri-food production industry is required to 5-7%, from the current 20%; to restore the compensation rate of farmers to 20%; credit with 75% of VAT for the sale of local agricultural products by entities that are not subject to VAT; as well as exemption from VAT for investments in green technologies.
Regarding the construction sector, it is requested to review the infrastructure impact tax, which today is calculated at 4-8% of the sales price, suggesting that this tax be calculated according to the value of the estimate of the works and not the final sale price per m2. It is also requested to review the level of the soil deposit fee, with the argument that it is a high fee and affects construction costs.
The business also requires automatic VAT refund, customs tax refund; environmental taxes and excise duties paid for raw materials and parts of exported products. Exemption from excise duty for fuel used in the production process; exemption from customs taxes for all raw materials used for the production of finished products.
As far as the monetary policy is concerned, it is required to stop economic transactions in foreign currency by imposing penalties and taking measures to reduce physical money in circulation.
On the other hand, businesses require ease and less bureaucracy in the implementation of the legislation in force.
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