VAT, property tax reforms lead to living cost worries

TIRANA, Oct. 10 – Albanians will face higher consumer prices as the current 20 percent VAT system expands to small businesses and pay more under a new value-based property tax in 2018, according to some of the major tax policy changes that have been unveiled ahead of the 2018 fiscal package. The Socialist Party Albanian government has reconfirmed its intention to include small businesses in value added tax system as part of its renewed campaign against informality, saying that only handicrafts traders and municipal-run markets will be excluded from the 20 percent VAT which is expected to trigger a hike…