TIRANA, June 28 /ATA/ The draft law “On fiscal and criminal amnesty of entities that make voluntary declaration of assets,” drafted by the Ministry of Finance and Economy, which came out last week for public consultation in addition to the legalization of amounts up to 2 million euros, and immovable properties envisages the right to revaluation of financial statements.
Article 15 of the draft law lays down the procedure for voluntary declaration of special elements of the annual financial statements.
The subjects of this law may re-declare special elements of assets, liabilities or equities of the annual financial statements of the company, as laid down in the guideline of the minister responsible for finance, in order to ensure a realistic, truthful and real presentation of each element of the assets and liabilities of these statements.
For all differences that arise from the re-declaration of special elements of assets, liabilities or equity of the annual financial statements of companies, which are obligated to perform the statutory audit based on the regulatory framework of the field of statutory audit, statutory auditors, who have audited the annual financial statements of these companies before the re-declaration process, are exempt from liability for the creation of these differences, as a result of the requirements of this law
For any difference between the real situation and the current accounting balance, which gives a net upward effect on income or capital, the subject has the liability to pay tax, according to the value and time modalities provided in Article 16 of this law.
/sm/
