Corporate Income Tax / Legal changes after January 2024Starting from January 2024 related party transactions must adhere to market principles. If the conditions of taxable profits from controlled transactions align with those that would apply between independent parties in similar circumstances, they are considered in line with market principles. Rules and procedures for implementing these guidelines are approved under the … Read More
Foreign Investments in Albania / Focus on Priority Sectors
Foreign Investments in Albania / Focus on Priority SectorsAlbania is on the verge of introducing a unified investment law to enhance its appeal to foreign enterprises, according to Finance and Economy Minister Ervin Mete. Speaking at the presentation of the Foreign Investors Association in Albania’s (FIAA) 2023 Business Environment survey, Minister Mete emphasized ongoing efforts to draft a new legal … Read More
Audit Trends in Albania: What to Expect in 2024
Audit Trends in Albania: What to Expect in 2024Audit Trends in Albania: What to Expect in 2024 As the business landscape in Albania continues to evolve, the role of auditing has become increasingly crucial for maintaining transparency, ensuring financial integrity, and fostering investor confidence. The year 2024 is poised to bring about several significant trends and shifts in the audit … Read More
Cryptocurrency and Blockchain: Transforming Albanian Accounting Practices
Cryptocurrency and Blockchain: Transforming Albanian Accounting PracticesCryptocurrency and Blockchain: Transforming Albanian Accounting Practices In recent years, the global financial landscape has witnessed a revolutionary shift with the advent of cryptocurrencies and blockchain technology. Albania, a country known for its rich history and cultural heritage, is not immune to these changes. The implications of cryptocurrencies and blockchain on Albanian accounting are … Read More
Navigating International Financial Reporting Standards (IFRS) in Albanian Businesses
Navigating International Financial Reporting Standards (IFRS) in Albanian BusinessesNavigating International Financial Reporting Standards (IFRS) in Albanian Businesses In the globalized economy, the adoption of common financial reporting standards is crucial for fostering transparency and comparability across borders. For Albanian businesses, aligning with International Financial Reporting Standards (IFRS) has become not only a best practice but also a strategic imperative. This … Read More
TAXATION OF PROFESSIONALS New Regulations
TAXATION OF PROFESSIONALS New RegulationsTAXATION OF PROFESSIONALS – New Regulations Starting from January 1, 2024, the implementation guidelines for the “Income Tax” law come into force. The published guidelines in the Official Gazette, through concrete examples, specify that under the new law, employment income will be taxed at progressive rates of 13% and 23%; net business income will be taxed … Read More
Buying a house in Albania in 2020: how much is it convenient?
In these times investing in real estate in Albania is a constantly growing trend.
There are many reasons for this choice, from lifestyle, infrastructures, then to tax breaks. In fact, it is no coincidence that the companies managed in Albania by foreigners are increasingly numerous, witnessed by the agencies that show that more and more foreigners, mostly of Nordic origin, are attracted by the possibility of a cheaper life.
HLB celebrates winning ‘Network of the Year’
LONDON – HLB, the global advisory and accounting network, is proud to announce that it has been named ‘Network of the Year’ at the 2020 Digital Accountancy Awards.
SIMEST: Support without guarantees for Entrepreneurs in Albania and Kosovo
Simest, thanks to the possibilities offered by the Relaunch Decree, notwithstanding the current legislation, until 31 December 2020 will not require any guarantee for the companies that will apply for a subsidized loan aimed at the internationalization of their company.
The Subsidized Loans are granted up to 25% of the turnover value (with a limit of 2.5 million Euros), with a duration of 6 years, one of which is pre-amortization, at a symbolic rate equal to 10% of the Euribor, and thanks to the important derogation now in force, no guarantees are required to support the repayment of the Loan.
Sectors of interest
Investing in Albania, which are today the successful sectors? Foreign direct investments in Albania in 2018 reached the share of 7.4 billion with Switzerland as the main investor, followed by Greece and Italy which is the main trading partner, ranking fifth for FDI.
