Taxes in Albania
The Republic of Albania is a small independent state, which is washed by the waters of two seas: the Adriatic and Ionian. The capital of the country is the city of Tirana. The population of 2 people is divided into those living in mountainous areas and those living in coastal areas.
In 2019, one well-known economic magazine listed this country in the top 100 countries in which doing business is easy and profitable. The modern economy of Albania is competitive and is ready to offer foreign enterprises and businesses favorable conditions for conducting commercial activities.
Albania is an agrarian-industrial country. About half of the state's GDP comes from agriculture. The food, textile, chemical and mining industries are also considered developed. The business sector and tourism are developing very actively. If you wish register a company in Albania, then it is worth considering the following promising areas:
- chemical industry;
- machine-building complex;
- hotel business;
- restaurants;
- IT technologies;
- work with real estate.
The company "E-COMMERCE BROKER" provides comprehensive services for opening a company in Albania and Europe. Over the many years of our activity, we have accumulated enough experience to allow us to cooperate with various European jurisdictions. For your convenience we are ready to conduct registering a company remotely, in full compliance with the current laws and regulations of Albania.
Types of taxes in Albania for legal entities
The most popular form of business in the Albanian Republic is the limited liability company and the free zone company. Albanian tax system It is distinguished by its simplicity and includes a small number of taxes for legal entities and enterprises:
- income tax;
- VAT;
- excise tax;
- tax on dividends, interest.
- Income tax.
The standard corporate income tax rate is 15%. If the company's annual income exceeds 60 thousand euros, then the rate is reduced to 5%. If the annual turnover of an enterprise is less than 8 million lek, then it does not pay tax.
- VAT.
The general VAT rate in Albania is 20%. But, free zone enterprises are exempt from paying this tax. For companies operating in the supply of medicines, VAT is 10%.
- Tax on dividends and interest is 15%.
Excise duty is provided for the following types of goods:
- tobacco;
- alcohol;
- coffee;
- cold drinks;
- petroleum products.
Besides that taxes in Albania are already quite low; foreign commercial organizations are subject to special tax conditions:
- If a company plans to develop its own production in the state for at least 10 years, then it is exempt from paying taxes for 4 years. Moreover, in the case of reinvestment of profits into production, the profit tax rate is reduced by 60%.
- If an enterprise conducts activities aimed at developing tourism, then it is also exempt from paying taxes for 5 years.
Registration of a company in Albania with “E-COMMERCE BROKER”
If you turn to the professionals of the E-COMMERCE BROKER Company for help in registering your own business, it will take a minimum of time and effort.
We take upon ourselves the effective solution of all activities related to registration and collection of documents necessary for registration, opening of a European bank account in the chosen jurisdiction, and even hiring qualified personnel for your company.
If necessary, we will help you obtain licenses and permits to conduct commercial activities in accordance with the current legislation of the Albanian Republic.
