TIRANA, Oct 26/ATA/- The Ministry of Finance and Economy-MFE is expected to review some of the exemptions or reduced rates in the fiscal system, specifically in VAT, income tax and excise, and will redesign tax rates in order to create a fiscal harmonization of tax policies.
The follow-up of this fiscal policy has been highlighted several times in the monitoring reports of international financial institutions.
The draft budget report for 2022 states that, in order to strengthen and increase the percentage of revenues collected in relation to GDP, it is necessary to draft a medium-term revenue strategy, which will serve as the key point of orientation of decision-making regarding public revenues. This strategy will determine how to achieve this goal.
The object of the Stabilisation and Association Agreement- SAA is to mobilize revenues through sustainable fiscal policies and administrative reforms, simplifying procedures, in order to create fiscal spaces for investment and sustainable development. The SAA is a high-level decision-making guide for fiscal system reform, for a medium-term period, necessary to help fund government strategic objectives.
The two main directions on which the reform of the Albanian tax system will be supported and on which the Medium Term Income Strategy (SAA 2022-2025) will be based, according to MFE, are the review and redesign of fiscal policies through analysis of the effects of current policies and necessary corrections for the medium term and the improvement of tax and customs administration procedures in order to increase the efficiency of fiscal administration through investments in technology, human resources and modernization of operational procedures. //a.i/
