Fiscal Package for 2016 - Albania

The Albanian Parliament passed on December 2015 the new fiscal package for the year 2016 designed to help small business with the turnover up to 5,000,000 ALL (36,000 Euro) by fully exempting them from profit taxes.

These tax changes were published on 11.01.2016 and on 22.01.2016. Almost all of these changes enter into force as of 1 January 2016. 

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New amendment of tax procedures in Albania to fight tax evasion.

On 23.09.2015, the Albanian Parliament has approved the new amendment to Law on Tax Procedures no.9920, dated on 19.05.2008, which was published on the Official Gazette No.187 date 28 October 2015 and will enter in force 15 days after its publication. This amendment aims to fight tax evasion by increasing penalties for taxpayers.  

The amendment was initiated by the Albanian government which has reconfirmed its committed to continue its nationwide campaign against informality and tax evasion.  

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New Accounting Standard for Not for Profit Organizations

On 17.09.2015, the Minister of Finance has approved the new Accounting Standard for Not for Profit Organizations, which was published on the Official Gazette No.171 date 01 October 2015. This standard was issued by National Accounting Council with the contribution of one of the TPA Horwath Albania Partners, Prof.Dr.Agim Binaj. 

This new accounting standard establishes guidance for general-purpose external financial statements provided by a not-for-profit organization.  Its objective is to enhance the relevance, understandability, and comparability of financial statements issued by those organizations.  It requires that those financial statements provide certain basic information that focuses on the entity as a whole and meets the common needs of external users of those statements.  

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Fiscal attractiveness of Central and Eastern European countries

Twenty-five years after the fall of the Berlin Wall Central and Eastern Europe (CEE) countries are once again an important point on the investment map of Europe and the whole world.

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Extended Benefits on Economic Zones - Albania

On June 23, 2015  Law No. 54/2015 “On some changes and additions to Law no. 9789, dated 19 July 2007, “On the creation and operation of economic zones” has come in force. Based on this new law, the terms and definitions of “economic zone”, “free zone” and “industrial park” are substituted by “technology and economic development zone”. The new term is broadly meant to encompass both the features of a free zone and an industrial park.  These zones will benefit from tax reliefs and  exploit additional supporting measures. 

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Thomas Haneder: a new partner at TPA Horwath

Thomas Haneder, experienced tax advisor eastern europe, tax advisor cee specialist, serbia, albania bulgaria austria

Mag. Thomas Haneder (35) has become a partner of the public accounting firm, TPA Horwath in Austria. As an experienced tax advisor, Haneder is essentially responsible for the development and establishment of the TPA Horwath Group in South Eastern Europe. As a partner, he has managed the offices in Albania, Bulgaria and Serbia for several years. As of 1.1.2015 he is a partner in Austria.


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New VAT Law for 2015 - Albania

On January 30, 2015, The Ministry of Finance published the Instruction on new VAT Law applicable from January 01, 2015. The new law and its instructions aim at harmonize Albania’s domestic law with the European VAT rules incorporated in the EU Council Directive. The new VAT law changes the rules in respect of the place of supply of services in that it harmonizes them with the relevant rules of the Recast VAT Directive. As a consequence, a foreign supplier providing services related to an immovable property located in Albania to a taxable person, will have no obligation to register for Albanian VAT purposes by appointing a fiscal representative and the local recipient of the supply will have the obligation to account for the VAT due through the reverse charge mechanism.

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The TPA Horwath Group is one of the leading tax advisory and auditing services companies in Central and South Eastern Europe.

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More than 1,000 employees work for the TPA Horwath Group at 26 offices in AlbaniaAustriaBulgariaCroatiathe Czech RepublicHungaryPoland, RomaniaSerbiaSlovakia and Slovenia.

Our services include tax advisory, accounting, auditing and advisory.