From the 31 in July of this year Albania is preparing for an important change, that of the introduction of electronic invoicing in the relationships between the subjects obliged to invoicing.
The Albanian Ministry of Economy and Finance has opened an impressive consultation process with all interest groups, trying to identify the pros and cons of the bill. Such a consultation process had not been seen for years and this once again demonstrates the importance of the project. The future law will regulate and sanction the obligation to issue electronic invoices, obliged parties and the contents of the invoice.
The computerization of the system will also help in the process of de-bureaucratization which has involved all the Public Administration of the country for years. Albania is a young country and communication with the public administration is mostly through new technologies and the internet. As also stated by the Ministry of the Economy in recent days, the 92% of requests for communication with the Revenue Agency are finalized through IT channels, so an adaptation to the proposed legislation will not be difficult for users at all.
During the month of August there were dozens of meetings and consultations between the Ministry of Economy and stakeholders, such as the Albanian Association of Banks, the Investment Council and representatives of the Technology and Information sector. Furthermore, the various professional orders, such as that of accountants, have invited their associates to send proposals and suggestions in writing so as to represent everything to the Ministry as soon as possible.
The initial term imposed by the bill was the creation of an electronic invoicing system between companies and consumers starting from 1 'January 2020, to continue with the computerization of all relations between companies and between companies and the PA compulsory from the 1 'January 2021.
Currently, as announced in one of the latest statements by the Minister of the Economy, Dr. Anila Denaj, the various online platforms involved in the "fiscalization" process are being tested. Unfortunately, and following the incessant involvement of all the parties directly involved, such as the companies that will develop the software, it was decided to postpone the first entry into force from 1 'January to 1' March 2020, while the one relating to enterprises sees the goal of the 2021 as the implementation limit.
The historical significance of this process cannot be denied, and I am not exaggerating in defining it as one of the most incisive changes in the reforms undertaken in recent years.
One of the biggest problems faced when presenting the country system to foreign investors is that of corruption and informality, factors that play against a market economy and fair competition between companies.
Among the objectives contained in the explanatory note accompanying the bill are the minimization of the informal economy and the fight against corruption by the Public Administration.
Moreover, with this new legislation we want to identify evasion more effectively by creating the right environment for the fight against money laundering. It is undeniable that the computerization of billing processes will bring Albania closer to Europe and to the standards required for its membership in the European Community.
The introduction of a completely computerized system will entail for the companies, especially the small ones, additional costs for adapting and using the system. It is, however, the opinion of the writer that the changes are necessary if we want to give a decisive blow to the informal economy present in the country and to the corruption that aggravates economic growth for years.
To put it in a metaphor; you can't wait for the increase in car sales to build new motorways. Process automation will simplify relations between companies, between companies and individuals, and between companies and the PA. In this way, an added value will be generated which will add to the economic growth already taking place in Albania.
Among the companies you can consult to learn about news and changes in legislation in Albania the FI SOLUTIONS SRLS by visiting the web page: www.balcando.it or via the Facebook page - Balcando FI SOLUTIONS SRLS