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No tax increase in Albania's fiscal package for 2016

Xinhua, September 30, 2015 Adjust font size:

Albanian government will not raise taxes during 2016. The new fiscal package of 2016 draft budget will provide the best facilities in tourism, crafts industry and adjustment procedures for other industries, Albanian Ministry of Finance said on Tuesday.

The Ministry of Finance is preparing a similar package to that of apparel and textiles for the tourism sector which provides the application of reduced VAT for accommodative structures, a continuous requirement of stakeholders.

VAT on Tourism of Albania is proposed at 10 percent, but it is still in discussion stage. The package provides tax imposition of 100 lek (0.8 U.S. dollar) for accommodation and soft loan support for businesses that want to invest in order to improve infrastructure. Endit