profit-tax-payment – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Mon, 17 Jul 2023 12:17:57 +0000 en-US hourly 1 Deferral of advance payment of profit tax, Vjero: It will benefit 387 exporting businesses https://en.ata.gov.al/2023/07/17/deferral-of-advance-payment-of-profit-tax-vjero-it-will-benefit-387-exporting-businesses/ https://en.ata.gov.al/2023/07/17/deferral-of-advance-payment-of-profit-tax-vjero-it-will-benefit-387-exporting-businesses/#respond Mon, 17 Jul 2023 11:00:53 +0000 https://en.ata.gov.al/?p=210504 TIRANA, July 17 /ATA/ Deputy Minister of Finance and Economy, Vasilika Vjero, announced on Monday that official data show that exports increased in quantity by 14%, during the first five months of the year, but due to appreciation of domestic currency Lek in relation to Euro, they recorded an increase of only 1 %.

Amid these conditions, according to Vjero, the government, through a normative act, deferred the payment of profit tax installments until 2024.

While reporting on the changes to the law “On income tax” in the Parliamentary Committee for Economy and Finance, Vjero said that the beneficiaries will be businesses that operate in the field of active processing and that last year had an export turnover estimated at 70% of the sales value.
“The normative act will ease exporters who operate in the field of active processing and that last year had an export turnover in the amount of 70% of the value of sales from the payment of advance installments of profit tax,” she said.

Depreciation of euro in relation to local currency to an all time low has affected exporting businesses, which are grappling with low income as a result of the exchange rate.
This, according to Deputy Minister Vjero, is also reflected in the figures of economic activity, mainly exports.
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