Albanian gov't relieves fiscal burden on agri-tourism companies

TIRANA, April 20 (Xinhua) -- In an effort to strength the agri-tourism industry in Albania, the government has decided to reduce the Value Added Tax (VAT) to 6 percent and profit tax to 5 percent for all businesses registered as agri-tourism enterprises, Albanian Deputy Agriculture and Rural Development Minister Dhimiter Kote said Friday.

Companies that enroll and certify as agri-tourism for a period of three years will benefit from the government fiscal measures.

According to this decision, the profit tax will lower to 5 percent from the current 15 percent.

"The latest Albanian government decision aims to revitalize the agri-tourism sector in the country," said Kote.

To be considered for the tax breaks, companies which call themselves "agri-tourism" should offer, at a minimum, one of the following services --accommodation, food and drink, and recreational activities related to the farm or the surrounding environment.

All existing companies that use the agri-tourism label must apply within six months to receive their certification. Enditem