10% tax on sale of agricultural land lifted

TIRANA, April 10 – Government decided on Wednesday to lift the 10 percent tax on the sale of agricultural land for agricultural purposes in a series of tax cuts it has undertaken ahead of the June 23 elections. Prime Minister Sali Berisha said the measure will help farmers by giving an impetus to farmers who want to expand their farms.
After scrapping VAT on imports of steel and cement for the construction of hydropower plants, government has also lifted the 20 percent VAT on imports of machinery and equipment for investments of USD 500,000, the 10 percent personal income tax on wages of up to 30,000 lek and cut taxes for used cars.
On Wednesday, government also approved a concession contract for a consortium of eight hydropower plants on the Osum River, worth Euro 140 million, with a capacity of 140 MW.