TIRANA, Sept. 8 – Albania and Switzerland have strengthened their double taxation deal by allowing exchange of information between authorities. The amendment to the deal was signed this week in Tirana during a visit by Swiss Deputy State Secretary for Foreign Affairs Georges Martin.
“Since 1999 Switzerland and Albania have agreed to avoid double taxation to the benefit of both countries. Today we take this agreement one step further, allowing information exchanges between authorities,” said the senior Swiss official.
“Double taxation agreements ensure that citizens and companies residing or operating in both our countries are charged taxes only once. This is good for individuals and also good for businesses,” added Martin.
Albania’s deputy Minister of Foreign Affairs Odeta Barbullushi said the new deal enables both governments to share information and provide mutual administrative assistance regarding tax procedures and will contribute to closer ties and benefit the business community on both sides.
Switzerland is one of the most important foreign investors in Albania with investments in the banking and energy sectors. A Swiss company also holds a concession on the compulsory car technical control.
