Proposal in the Assembly/ “Tax exemption for luxury hotels postponed for 2 years”
Socialist MP Blendi Klosi has proposed to the Parliamentary Committee on Economy to extend the deadline for corporate tax exemption for luxury hotels by two years.
"Today, thanks to this policy, we have 11 brands that have registered in our country and there are about 10-11 others that have entered the Albanian tourism industry. Today in Albania we have 22 brands in tourism that have made their investments in Albania. These 4-5 star resorts have invested 450 million euros, of which 100 million of them are already active. We come again with this draft law because in 2019 there was no company. The real reason why we come here is because in 2019 when this process began, along with the tourism initiative, there was considerable development. But then due to the pandemic and the war, these investments were interrupted. Now we have a much increased interest in these investments. And all these investments are made outside of populated centers and are investments with priority for economic development. The draft law aims to exempt from corporate income tax and luxury brand name hotels that have a special status, requiring a 2-year extension of the deadline from the moment we are until 2026 and extending from 3 years to 5 years the effects of the exemption from obtaining the status. Why do we need 5-star hotels? The tourism industry must have high standards with which the industry should develop, new jobs should be opened.
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