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Proposed income tax changes to increase companies’ burden

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3 mins read
9 years ago
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TIRANA, Nov. 21 – Some newly proposed changes to the income tax will increase the companies’ corporate income tax by lowering the amount of tax deductible interest involving borrowing expenses that taxpayers can claim to reduce taxable income, sparking concerns among Albanian and foreign businesses over a new hike in the tax burden, already the main issue of concern for companies operating in the country. “The changes proposed in this draft law are part of the 2017 fiscal package on the tax deductions to calculate the corporate income in case of borrowing between affiliated companies. Financing with very high debts…

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  • "Clearly, this change would increase the corporate income tax payment to the budget as long as companies incurring losses will have no opportunity to recognize as tax deductible the interest rates paid on their debts. As a result, the proposed change is an increase in the tax burden, which runs counter to the government's commitment not to further increase the tax burden,” says the American Chamber of Commerce

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