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Business society welcomes fight against informal economy in Albania

Xinhua, September 11, 2015 Adjust font size:

Foreign Investors Association of Albania (FIAA) said on Thursday during a press conference it supported the initiative by Albanian government to fight against informal economy in Albania.

FIAA said that this is more than a welcome step for the economy, which will significantly improve the business environment with obvious benefits for all the people. FIAA believed that an effective fight against informality is one of the best ways to prevent further increase in taxes, which would hamper economic growth.

Fighting informal economy is a challenge for Albania which has been repeatedly raised by the business community as one of the main obstacles in the business environment, recently identified in FIAA's questionnaire on the business climate in Albania in 2015.

Since September 1 this year, Albanian government has launched an action against informality across the country. Albanian Minister of Finance Shkelqim Cani said one third of businesses operating in Albania do not have e fiscal cash register, whereas level of informality accounts for almost 50 percent.

Cani considered this operation will not only help the government in reducing taxes and public debt, but also help in increasing wages and pensions. Endit