Which areas of Albanian tax policy, should we focus on?ALTax
The appropriate approach to tax policy could be the income taxes, and best fitted for the short to medium terms it is the personal income taxation. On the other side the corporate income tax need some assistance in administering issues of extractive industries (Mines, oil and gas), renewable energy (solar and wind energy) and tourism chain industry (agriculture, transportation, entertainment, food service, accommodation).
The new fiscal system (package of laws and sub laws) for the hydrocarbon sector and mines will be the most appropriate focus neither for the budget and either for the sector too.
Another direction of fiscal policies it is the legal framework for the finances and fiscal system of local power. In the first 6 months of the 2015 in Albania has been undergone and approved by Parliament the territorially and Administrative reform. In this regard, the old financial and fiscal system is going in a process of changing and adapting with the good practices.
The tax administration in Albania is now assisted by the IMF local experts in the area of strategic planning and action plan based in Compliance risk management. In this regard, it could be a good effort for the administration to help them how to organize and optimize the tax audits, in order to help the budget revenues and to have less tax appeals and court cases, in other words how to be the audit output more productive and efficient.
Albania taxation system, right now is going to be administered in full based in a new IT system, which with the completion of last modules for the risk management and some of income tax returns will be in good help for the taxpayers to submit and pay taxes online and also to have a transparency of tax administrations procedures.
The latest development in the area of the fiscal administration (Tax and customs) belong to optimization of the administration to formalize the program for the union of tax and custom administrations of Albania in one organization.