TIRANA, Jan 13 /ATA/ Businesses with an annual turnover below ALL 10 million must declare the accumulated VAT (VAT surplus credit) until 31.12.2020 in the VAT declaration and payment form of December 2020.
General Directorate of Taxes informed the taxpayers below the annual turnover of ALL 10 million on the procedure to be followed for the adjustment in the credit balance.
“From January 1, 2021, with the entry into force of the Decision of the Council of Ministers no. 576 dated 22.7.2020, which changes the taxpayer bracket for the VAT regime until 31.01.2020, all taxpayers below the annual turnover 10 000 000 (ten million) ALL that have stock goods unsold, or capital goods, other assets used for the activity, where the VAT on these goods has been fully or partially deductible are obliged to adjust the VAT for these supplies, ” GDT said. .
So, the accumulated VAT (VAT credit surplus) until 31.12.2020 will be declared in the VAT declaration and payment form of December 2020 by the taxable person, specifically in column 50 “adjustment of deductible VAT. ”
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