VAT changes put agribusinesses in difficulty

Tirana Times
By Tirana Times February 21, 2019 17:23

VAT changes put agribusinesses in difficulty

Story Highlights

  • Legal changes applying a two-tier value added tax on agricultural products starting January 2019 have placed Albania’s agribusiness industry into difficulty and made the country’s exports uncompetitive due to increased costs. Business representatives say the situation is a result of legal changes approved in late 2018 as part of a 2019 fiscal package that lifted a unified 20 percent VAT that Albania applied on agriculture products to switch to a differentiated 6 percent on VAT applied during the purchase of products from farmers and a 20 percent VAT applied during sales.

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TIRANA, Feb. 21 – Legal changes applying a two-tier value added tax on agricultural products starting January 2019 have placed Albania’s agribusiness industry into difficulty and made the country’s exports

Tirana Times
By Tirana Times February 21, 2019 17:23