Flat tax goes full scale, Deputy Finance Minister explains loss to state revenues

TIRANA, Jan.8- In an interview for the media, Deputy Finance Minister Florion Mima explained that the state revenues will suffer a loss of $110 million from the implementation of the fat tax, due to lower obligation on big businesses that will pay half of the profit tax, formerly at 20 percent. The flat tax is effective since January 1 of this year, though the decision has been taken on July of 2007. According to the Deputy Minister Mima, the tax issue should not be turned into a political battle horse. Mima also explained that Slovakia and Lithuania have successfully implemented the flat tax and attracted high levels of FDI, an aim that the administration has in its list of priorities. Mima also said that 2008 will be the year of the consolidation of fiscal policies and no novelties should be expected in the field.