The Impact of High Taxes on Free Professions and the Role of Financial Consultation       The recent implementation of income tax laws for self-employed professionals in Albania has sparked concerns and raised significant challenges, particularly for liberal professions such as psychologists and lawyers. The tax burden imposed by these laws has been described as excessively high, with professionals … Read More

What you need to know about Albania: Investing in the country according to Total Impact       2023 marked a significant milestone for Albania, solidifying its position among Europe’s top destinations. Visitors who previously overlooked the country in their Balkan travels have now discovered its allure, from stunning beaches and majestic Alps to affordable prices and delicious cuisine. Media … Read More

Tender published for Italian migrant centres in Albania       In a recent development, the Rome prefect’s department has announced tenders for the establishment of three Italian migrant centers in Albania, as part of an agreement between Rome and Tirana forged last year. The notification outlines the allocation of funds, with an annual budget of nearly 34 million euros … Read More

UN Tourism Barometer/ Albania Best Destination in Europe 2023       The UN Tourism Barometer, known for its regular monitoring of short-term tourism trends and providing timely analysis to global tourism stakeholders, has named Albania as the leading destination in Europe for 2023. Published quarterly, the Barometer offers insights into inbound tourism to destinations and outbound tourism from source … Read More

Economic Renaissance: A New Chapter in Albania       In recent years, Albania, a country once shrouded in mystery and isolation, has embarked on a transformative journey, capturing the attention of the global community. With its stunning Adriatic coastline, rich historical tapestry, and vibrant culture, Albania is rapidly emerging as a beacon of progress and innovation in the Balkans. … Read More

Tax on Transfer of Real Estate in Albania       The Ministry of Finance and the State Cadaster Agency have recently issued a significant joint instruction titled “On Income Tax from the Transfer of Real Estate,” officially published on January 17, 2024. This instruction aims to clarify the application of capital gains tax from real estate transactions, particularly focusing … Read More

Jared Kushner Roars in Europe: Investing in Albania and Serbia with Arab Funds, Guided by Richard Grenell       Jared Kushner, son-in-law of former President Donald Trump, is on the cusp of finalizing substantial real estate deals in Europe, focusing primarily on Albania. Reports from The New York Times indicate that Mr. Kushner’s plans in the Balkans have gained … Read More

Corporate Income Tax/ General Provisions on Profit Determination       Amortization For the determination of taxable income, amortization for fixed business assets is calculated and deducted by: a) the owner of the business assets, except in cases specified in subparagraph “b” of this point; b) the person bearing the risk of loss or damage to the assets, in cases … Read More

Western Balkans leaders pledge to speed up reforms for EU growth plan       On Thursday, leaders from Western Balkan countries reached a consensus to expedite regional collaboration, capitalizing on a new European Union financial aid initiative aimed at hastening the path to membership. The EU’s proposal involves allocating 6 billion euros (approximately $6.5 billion) to the Balkan states … Read More

Directing Attention to Investments: The Advantage for the Albanian Economy Through a Distinct Payment System       Finance Ministers and Central Bank Governors from Western Balkan countries gathered in Tirana to discuss integration into the European payment system. The move, part of the EU’s Growth Plan, aims to significantly reduce transaction costs for citizens in the region. The focus … Read More