1 billion euros in business liabilities are hidden - The President decrees 7 laws of the package. Fiscal peace implementation is about to begin
The President of the Republic, Bajram Begaj, has decreed 7 fiscal deficit laws, to pave the way for their publication in the Official Gazette and subsequent entry into force. Among the most important laws is the agreement on fiscal peace between businesses and the tax administration, as well as the forgiveness of tax and customs liabilities older than 10 years.
The General Directorate of Taxation explains that fiscal peace will be an agreement between the Tax Administration and businesses generated with the help of Artificial Intelligence, which avoids tax audits, improves the business climate, but on the other hand guarantees the collection of tax obligations through an agreed tax on profit.
Thus, taxpayers can apply for a fiscal peace agreement via e-filing. While the tax will be agreed upon on a formula, based on declared profits and an extra profit margin, i.e. an 18% margin will be added to a business's declared profit, and any profit that exceeds the 18% threshold will be taxed at 5%.
Beneficiaries are all large businesses with profits over 14 million lekë that have no outstanding liabilities and are not convicted by a final decision, and are not subject to investigation by the tax administration. This agreement will be in force until the end of 2028.
While the amnesty law provides that from January 1, 2026, all unpaid tax and customs obligations, direct or indirect, unpaid, as well as fines or late payment interest, belonging to tax periods up to December 31, 2014, will be automatically erased. The only obligations that are exempted are those of social security and health contributions. As for tax obligations with the exception of social security and health contributions, belonging to tax periods from January 1, 2015 to December 31, 2019, a different scheme will be applied.
Specifically, 50% of the tax liability will be extinguished if the remaining 50% of the tax/fee/charge is paid all at once by 30.6.2026. As well as 25% of the tax liability will be extinguished if the remaining 75% of the tax/fee/charge is paid in equal monthly installments by 31.12.2026. In both of these cases, fines and late payment interest will be waived.
Meanwhile, fines and late payment interest for obligations pertaining to tax periods from January 1, 2020 to December 31, 2024 will be waived provided that the tax/fee/fee for the relevant period is paid by 31.12.2026.
As a result of the implementation of this law, approximately 207 thousand businesses will benefit and approximately 1 billion euros will be forgiven.
One of the laws decreed by the President is that of compensating farmers with 10% of the VAT paid for the purchase of agricultural inputs, which is expected to bring positive effects to the sector.
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