Albanian gov't pardons millions of USD in fiscal obligations
Xinhua, February 23, 2017 Adjust font size:
The Albanian government has adopted a draft law pardoning the fiscal obligations of all natural and legal persons before December 2010, Albania's Finance Minister Arben Ahmetaj said here Thursday.
The fiscal obligations to be pardoned include principal, delay interest and fines in a total of 91 billion leks (710 million U.S. dollars), Ahmetaj said.
Moreover, the government will also delete penalties and delay interest on arrears from 2011-2014, provided that within six months from the law's entry into force, the individuals or private entities will pay full tax, fees and contributions.
The same applies to the deletion of national and local taxes and customs fees.
According to the finance minister, even the penalties and delay interest for social and health insurance contributions would be pardoned if the individuals or subjects make the payments.
He added that even the fines generated automatically by the system for declaration of contributions, regardless of the period to which they belong, will be erased.
However, Ahmetaj told reporters that the pardoning scheme will not include entities or persons who had been convicted of tax evasion or smuggling.
The Albanian government expects such a move to create more incentives for businesses. Endi