Control of transactions in exchange offices - Taxes, action on 20 entities. 643 others are “targeted”
Cash circulating in the Albanian economy is the focus of numerous state controls.
The Tax Administration has launched inspections for the implementation of the law on the Invoice and Circulation Monitoring System in 20 foreign exchange offices, an action that is expected to continue and continue with the aim of formalizing cash in the economy.
According to the General Directorate of Taxes, the inspections resulted in 8 taxpayers being caught not issuing invoices for transactions carried out, 9 taxpayers issued invoices at the time of the inspections, and three taxpayers were found to be closed.
Within the framework of these inspections, the Tax Administration has notified 643 entities for the fulfillment of tax obligations.
Taxes remind these entities that failure to issue a tax coupon for each transaction classifies them as risky entities and makes them subject to control.
According to official data, the use of physical money still remains predominant in the Albanian economy, carrying high costs for economic actors.
The Medium-Term Revenue Strategy 2024-2027 foresees the implementation of a plan of measures by the tax administration to reduce cash payments in the economy. These measures include setting a limit on cash payments between individuals; Further reducing cash payments between businesses from the current 150,000 lek.
It also foresees the creation of risk rules that identify taxpayers who fragment invoices in order not to exceed the limit set by law, as well as taxpayers who have an abnormal level of cash billing compared to their peers.
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