TIRANA, Aug. 19 – One out of ten businesses operating in Albania is finding difficulty in paying off taxes and tax authorities have initiated procedures on forced collection.
Albania’s general tax administration reported more than 13,000 businesses nationwide which have failed to pay taxes and accumulated penalties from late 2009 to August this year. The number of debtor businesses is almost 12 percent compared to the total number of active enterprises reported at the end of 2014.
There were some 13,119 debtor businesses reported in early August 2015 by the tax administration compared to 112,537 active enterprises reported by INSTAT in 2014.
The blockage of tax payers` bank accounts and ordering the execution of blocked accounts by transferring the blocked amounts from the taxpayers` accounts to that of tax authorities is one of the most used precautions by tax authorities in Albania.
Because of this situation it is estimated that many companies keep in their bank accounts only minimum amounts of money, and pay in cash, experts say.
