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19 January 2021

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Albania Tax Changes for 2021

Albania has introduced several tax changes for 2021, including changes to support smaller businesses. Changes include:

  • The general definition of taxable persons for profit tax purposes is amended to include any legal entity or partnership realizing annual income above ALL 8 million (reference to VAT registration removed);
  • Small businesses with annual turnover of up to 8 ALL million are subject to simplified tax on small businesses, with the rate set at 0% instead of 0% for turnover up to ALL 5 million and 5% for turnover of ALL 5 to 8 million;
  • The profit tax rates are amended as follows, with the removal of the 5% rate:
    • 0% for taxpayers with annual income of up to ALL 14 million
    • 15% for taxpayers with annual income over ALL 14 million
  • A new VAT registration threshold is introduced, with registration required if annual taxable turnover exceeds ALL 10 million and voluntary registration allowed if turnover exceeds ALL 5 million;
  • VAT return periods are harmonized, including that all VAT registered taxpayers are required to follow a monthly period, with VAT purchase/sales books due by the 10th of the following month and VAT returns due by the 14th of the following month; and
  • The national minimum wage is increased from ALL 26,000 to ALL 30,000, which is used as the minimum basis for social and health insurance contributions.

The changes apply from 1 January 2021.

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