Freelancers risk refund - Taxes: December 18 deadline for those who have not yet declared their bank accounts
A good number of freelancers have not declared their bank account details on time, making the process of refunding prepaid installments of income tax difficult.
The Tax Administration informs that after verifying the data of taxpayers who provide professional services, pursuant to Normative Act no. 4, dated 27.11.2024, "For an addition to law no. 29/2023, "On Income Tax", as amended, it is established that some of them have not yet declared their bank account data in e-Filing.
This information is necessary to successfully finalize the process of refunding payments of advance installments of Simplified Income Tax or Income Tax within this year.
For this reason, the General Directorate of Taxes has decided to postpone the deadline for declaring bank accounts in their electronic e-Filing account until December 18, 2024.
On the contrary, if the bank accounts are not updated within this period, the Tax Administration does not guarantee the refund of the prepaid tax payment within this year, but at a second moment during the year 2025.
Taxpayers must have a bank account in Lek currency and assets in one of the second level banks.
At the end of November, the Council of Ministers approved the normative act for the return of income tax installments prepaid by self-employed professionals. About 6,450 taxpayers benefit from the normative act, who will be reimbursed with a fund of 501 million ALL.
The income tax law, which entered into force on January 1, 2024, taxed nearly 29,000 freelancers at a rate of 15-23%. The professionals did not agree with this tax regime and took the case to the Constitutional Court. After several hearings, the Constitutional Court decided to abolish the article that taxed this layer, calling it discriminatory.
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