Albania to tighten rules against tax evasion

TIRANA, Oct. 16 – The Albanian government has proposed tighter rules against tax evasion following a series of incentives already approved or pending final approval that are expected to become effective next January in a carrot and stick approach ahead of the upcoming mid-2019 local elections. In its 2019 fiscal package, the ruling Socialist Party majority has reportedly proposed businesses will no longer be allowed to suspend their activity by switching to passive status without paying off tax obligations. The move comes at a time when the number of businesses closing down has seen a sharp double-digit increase amid a…