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FISCAL PACKAGE 2020 IN ALBANIA

In complementing policies to minimize the informal economy in Albania, improving tax revenue collection, but also in terms of adapting tax legislation in line with latest technological developments,in particular the implementation of the mechanism known under the legal initiative named as"Improving the Management Module of Billing Control (Fiscalisation)" has been introduced by the Ministry of Finance and Economy a complementary set of legal changes affecting both the law on tax invoice procedures and related services with it, but also the chapter of the VAT law, which describes the VAT tax invoices and other related documents, as well as the income tax law.

Currently, provisions that provide the elements of tax invoice, method of invoicing, and control of cash transactions through the system of fiscal cash registers, are provided by law no. 9920, dated 19.5.2008,"On tax procedures in the Republic of Albania”, as amended. Since the law on invoice and turnover monitoring system will change the invoices and transaction monitoring system, then there is a need for changes to the relevant provisions of law no. 9920/2008.

For the first time is introduced to be applied the generation of an automatic VAT declaration, where the taxpayer is left with the duty of only its certification or correction if it has not stated correctly in the sales and purchase books.

For more news and updates you can read the whole information when you download the publication of ALTAX.

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