No tax increase in Albania’s fiscal package for 2016

Tirana, Sep 30 (IANS) Albania 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, the ministry of finance has said.

The finance ministry is preparing a package similar 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, Xinhua news agency reported.

VAT on tourism of Albania is proposed at 10 percent, but it is still in discussion stage.

The package provides tax imposition of $0.8 for accommodation and soft loan support for businesses that want to invest in order to improve infrastructure.

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