"Fiscal Peace", a relief or a hidden amnesty? Gjokutaj: Regular subjects will be unequal before the law
The Ministry of Finance has revised the draft law for the so-called “Fiscal Peace” agreement, an initiative that offers businesses with revenues over 14 million lek the opportunity to review and correct their financial statements for the last five years, paying only 5% tax and without any fines or late fees. But this initiative has sparked strong debates, as economic experts see it as a hidden amnesty, favoring those who have evaded tax obligations over the years.
"It has the name fiscal peace, but in essence it is a disguised fiscal amnesty, in terms of what it tells us, so we have an individual agreement between taxes and companies, in exchange for declaring those monies that have not been previously declared from the balance sheets or indicators of fiscal statements, and of course it is a great benefit precisely for that contingent, which has avoided tax control, has evaded legislation and is now trying through this form, to benefit in an unfair way, or in a fiscally non-transparent way," said Eduard Gjokutaj.
Under the new draft, businesses that voluntarily enter into the agreement will not only prepay the current year's tax on a profit automatically increased by 18%, but will also be able to redeclare cash, assets, liabilities and retained earnings from the last five years, all with only a 5% tax and without administrative consequences. This mechanism, according to the government, will be used as a way to increase transparency and avoid tax conflicts. But experts say that in practice, the initiative favors those who have made incorrect declarations, creating inequality with businesses that have been correct with the law.
"In fact, the agreement that is being considered between taxpayers and the tax administration avoids both the administration and the part that has to do with the subjects by giving priority to precisely what is not honest. A harmful tax morality, where those who have declared and paid correctly, feel discriminated against and unequal before the law, and are tolerated even though it seems like there is an artifice to increase a tax or profit rate above 18% which is a priori not an in-depth analysis for us to understand how it came about. So we have a legalization of money and even, with a reduced rate three times less than the standard income tax rate," - explained the expert.
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