Fiscal amnesty law/Here's who benefits from the cancellation of debts and interest on arrears
The General Directorate of Taxes has published the latest clarifications on the implementation of the law "On the cancellation/extinguishment of unpaid tax liabilities", calling on taxpayers to benefit from fiscal incentives within the specified deadlines.
According to the Tax Administration, taxpayers who want to benefit from the cancellation of 50% of the unpaid principal obligation for the period 2015–2019 must repay the remaining 50% by June 30, 2026. If this deadline is not respected, they can benefit from the cancellation of 25% of the principal, paying 75% of the obligation by December 31, 2026.
The Taxes clarify that the law applies only to unpaid tax and customs obligations to the central, local and customs administrations. Consequently, fines for failure to submit financial statements on time or for failure to declare beneficial owners to the National Business Center are not included in the forgiveness scheme.
A special relief is provided for social security and health insurance obligations. Taxpayers who have fully repaid the principal benefit from the full forgiveness of fines and late payment interest for the period until December 31, 2024.
For obligations incurred during the years 2020–2024, no principal forgiveness is provided, but the law allows for the cancellation of fines and late payment interest, provided that the obligations are paid in full within the period June 10 – December 31, 2026.
The Tax Administration announces that, after the repayment of obligations, it will proceed with the removal of coercive measures, including the unblocking of bank accounts for taxpayers who result without unpaid obligations.
To expedite procedures, entities can submit a request for the removal of measures through the e-Filing system, after verifying that they have no outstanding obligations.
Taxpayers convicted by a final decision or those under investigation or legal proceedings for criminal offenses in the tax and customs field are excluded from the benefits of the law. Also, entities for which there is a final court decision in favor of the Tax Administration do not benefit.
The General Directorate of Taxation calls on all taxpayers to be informed about the terms and conditions of the law, so as not to miss the opportunity to benefit from the fiscal incentives offered.
Whoever abuses EU funds, 2 to 5 years in prison - Penal Code amended/ Measures against fraud with European funds strengthened
The Albanian government has initiated new amendments to the Criminal Code, in the context of the approximation of national legislation with the European......
AI is transforming the economy and society in Kosovo - Minister Jagxhiu: Its use in all fields is a necessity
Artificial Intelligence is rapidly transforming the economy and society in Kosovo, while its use in all fields is now a necessity. This was stated by the......
ADF, reconstruction of roads in several cities - From Koplik to Konispol. Investments in road infrastructure
The Albanian Development Fund has announced the opening of two important tender procedures, with a total fund of approximately 850 million lek, for the......
Exchange rate/ US Dollar and British Pound Strengthen
The US dollar registered a slight increase in value this Tuesday morning, as compared to the day before, it was bought today for 81.2 lek and sold for 82.2......
Markets assess oil supply recovery - Prices continue to fall after US-Iran peace deal reached
Oil prices extended losses on Tuesday as markets weighed prospects for a resumption of supply through the Strait of Hormuz and the lack of details from a......
Global electric vehicle registrations - Up 3% in May, driven by higher fuel prices
Global demand for electric vehicles rose for the third straight month in May as subsidies and high fuel prices continued to push the transition away from......
Renewable energy revolution in Spain - Electricity bills are lower despite the crisis
Electricity bills in Spain have fallen, while many other countries have seen a rise since the energy crisis caused by the outbreak of war with Iran. A new......
"There is no slowdown in the global economy" - IMF Chief Georgieva: Risks still remain high
The world economy is coping with the shock of war in the Middle East with no signs yet of a global slowdown, but risks remain high, the head of the......
