COVID-19 impact, American Chamber of Commerce calls for elimination of fiscal obligations

Tirana Times
By Tirana Times March 17, 2020 21:48

COVID-19 impact, American Chamber of Commerce calls for elimination of fiscal obligations

TIRANA, March 17 - In its latest press release, the American Chamber of Commerce in Albania urged the Government of Albania to develop a parallel emergency plan in support of the business community to prevent a deep economic crisis from sapping the economic health of the country, amid the spread of the coronavirus.

As many businesses have suspended their activities in line with the government's measures, AmCham expressed solidarity and support by "offering to assist the government in identifying measures to ease the burden for businesses during this difficult time."

In this line, the American Chamber recommended the following steps be taken immediately:

  • Postponing the timelines required for:
  1. Financial Reporting
  2. The filing and payment of the value added tax, and;
  3. The annual notification of controlled transactions
  • The elimination of all fiscal obligations for at least three months and for businesses in the tourism sector for six months
  • The creation of an emergency fund that will allow quick access to capital (by way of grants or long-term loans) to help businesses cope with the negative effects of this period 

Tirana Times
By Tirana Times March 17, 2020 21:48