Companies operating in Albania or individuals who have undeclared money or assets can regularize their position by paying a tax that varies from 3 to 5 percent of the total amount.
The Albanian government is preparing a tax amnesty project, which will soon be voted on in parliament.
Under the project, businesses will be able to legalize undeclared earnings over the years, while citizens are encouraged to regularize revenue that is the result of illegal work.
The amnesty excludes the proceeds from the corruption of officials and the money generated from criminal activities such as drug trafficking, prostitution or other crimes foreseen in the anti-corruption package. However, the way in which the government will prevent the crime money from ending up with amnesty remains to be clarified.
Prime Minister Edi Rama during the socialist congress announced this important measure that will lead to tax amnesty, focusing on remittances from emigrants, excluding money and goods from drugs and other criminal activities, including money from bribery of officials or prosecutors .
“We will launch a maxi amnesty for all Albanians at home and abroad to give them the opportunity to declare all the money and their assets. The money can put it in the bank and the goods must be declared. And it won't be one or two organizations that will stop us, the whole world can get up but this will be achieved. Albanian emigrants can no longer afford to hide their money amid a thousand difficulties, nor can we torture them by forcing them to launder money ", said Rama
even the Minister of Finance and Economy in a brief press release he spoke about the bill on the maxi amnesty.
The minister said he referred to the regulations of other countries stating that foreign experts have been involved in making the amnesty comply with international standards.
"With this initiative we aim to integrate another element in the formalization of the economy, which has already started with the taxation process" said the minister.
No amnesty for criminal activity income
The government ensures that businesses or individuals who declare hidden income who do not have criminal activities as their source will not be prosecuted. For this, Prime Minister Rama said that the amnesty law will be voted with 84 votes necessary to adapt the rules on the crime of evasion, although the parliamentary opposition has not yet taken an official position on whether to join the vote on the law .
This is the first time that Albania plans to implement a maxi amnesty. In 2011, the government of Sali Berisha attempted a similar amnesty, but the law ended in fiscal peace, as the then opposition did not provide the votes needed to change the penal code on the crime of evasion. As a result, businesses and individuals were reluctant to declare tax evasion money as they could be prosecuted.
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