Changes to tax system prompt Albania’s fiscal authority to collect ALL 846m more than planned
The amendments that the government has done in the taxation system over the recent years have produced the expected effects on the state budget revenues.
Thus, with the change of the ruling majority in 2013, the profit tax for businesses increased from 10% to 15%.
Official data from the Ministry of Finance show that revenues from the profit tax for the 11 months of the year were realized at the value of ALL 27.6 billion, or 1.5 billion more than the same period of 2016 and 846 million more than the plan.
According to an analysis drafted by public finance specialists, the main impact was given by the awareness of taxpayers for the real declaration of transactions to final consumers.
Regarding this what could be said is that a great impact has had the action on informality, as well as controls or analysis on the basis of the risk that have been planned by the tax administration.
But the increase in the tax burden seems to have brought stability to the budget, but also to the macroeconomic stability of the country.
Albania is supposed to have a hidden fiscal revenue at roughly 40% of the Gross Domestic Product.
The government has recently embarked on several initiatives to cope with this situation, such as an action against informality, as well as a fiscal amnesty.
SCAN
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