Lower VAT threshold increasing tax evasion, big businesses warn

TIRANA, Sept. 11 – A lower value added tax threshold that the Albanian government introduced this year in a bid to formalize the market has apparently increased tax evasion among small businesses and created problems for big companies amid growing refusal by vendors to accept VAT receipts for their supplies. Big businesses complain they have been facing rising difficulty to trade their products since April 2018 when new legal changes became effective reducing the annual turnover threshold for a small business to be included in the 20 percent value added tax to 2 million lek (about €15,700), down from a…