Who is exempt from taxes until 2029? - From small businesses to 4 and 5 star hotels
A number of sectors of the economy will continue to benefit from government fiscal incentives until 2029.
The General Directorate of Taxes clarifies to businesses that the profit tax for agritourism, with the aim of further developing this sector, to respond to both the growing influx of tourists but also their interest in exploring different regions and local products, will be at the level of 5% until 2029.
Also, this tax rate will apply to Agricultural Cooperative Societies as well as economic activities that produce or develop software, registered before the law entered into force.
The automotive industry, with the aim of developing it in our country and generating new jobs, will again be treated with priority until 2029, being taxed at 5%.
In order to develop elite tourism and attract well-known hotel brands to our country, accommodation structures (4- and 5-star hotels, resorts) will continue to be exempt from profit tax.
Likewise, commercial individuals, the self-employed, and entities with gross income of up to 14 million lek per year will be exempt from tax until 2029, with the aim of expanding business activities in the country.
But, despite the fact that the self-employed are not taxed on their profits, to avoid evasion schemes, for those with a limited number of clients, the tax rate can go up to 23%.
The latest Finance Instruction, which includes declarations from January 1, 2025, stipulates that "if a self-employed person, 80% of the income earned is provided by 1 single client, or 90% of the income earned by less than 3 clients, for the purposes of calculating the tax liability on his annual net income (billed income minus deductible business expenses), employment income tax rates of 13-23% (after tax deductions) will be applied."
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