Taxes, campaign for the formalization of agriculture - Zusi: Legal changes and financial support are needed
Economic experts support the tax administration's initiative to formalize the agricultural sector, but suggest that legal changes be undertaken as well.
Expert and entrepreneur Alban Zusi says that farmers should be included in the VAT scheme and offered more financial support with grants and soft loans.
The tax administration has launched an awareness campaign for farmers and businesses involved in the trade of agricultural and livestock products, as it is one of the most informal sectors in the Albanian economy. The campaign aims to formalize the sector and at the same time increase food security.
Economic expert Alban Zusi, who also held the position of former Deputy Minister of Agriculture, is in favor of this tax administration initiative.
But, Zusi adds that legal changes are also needed, so that farmers are included in the VAT scheme and the effects are long-term, not just within the framework of a campaign.
He also states that the formalization of the agricultural sector should be accompanied by increased support through grants and loans with favorable interest rates.
Just a few days ago, the Bank of Albania and the Ministry of Finance, during a meeting with commercial banks, announced a credit line worth 30 million euros, with an interest rate of 2%, that will support the agricultural sector. The loan will support investments that increase production capacity and competitiveness.
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