A normative act amends Law No. 29/2023 “On Income Tax” to provide Exporters with facilitation measures
Following the approval of the new Law No. 29/2023 “On Income Tax” which introduced new regulations in the area of taxation for personal income and corporate profit, the Council of Ministers approved the Normative Act “On some Additions to Law No. 29/2023, “On Income Tax” on June 7, 2023. These measures were intended to provide some relief and the potential to increase liquidity for exporting companies, which had recently been impacted by changes in the country’s exchange rate.
“Exporting taxpayers, who in 2022 have exported no less than 70% of the total value of sales, including exports, do not pay the installments that are prepaid in June, September and, December of 2023”. Any Albanian exporting company that exports more than 70% of its products as of the implementation date of this Normative Act shall not prepay the profit tax installments for June, September, and December 2023. Exporters will only be required to pay profit tax if they are profitable; otherwise, they won’t be required to pay the profit tax.
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