13,000 Businesses Closed in 2017

13,000 Businesses Closed in 2017

According to data from the Directorate General of Taxes, during 2017 13,000 businesses have changed their status in the Business Registry to “passive.” This means they have either suspended their activities or that have not operated on the market for at least 12 months and not declared their taxes. The majority of the businesses where […]

GEDI: Starting a Business Is Considered Too Risky in Albania

GEDI: Starting a Business Is Considered Too Risky in Albania

Albania is ranked second to last in the Western Balkans regime with relation to the business climate, performing only better than Bosnia & Herzegovina. According to the Global Entrepreneur Index 2018 of the Global Entrepreneurship and Development Institute, Albania is ranked 83rd of the 137 countries surveyed, dropping 3 places compared to last year. Albania’s […]

38 Businesses Close Every Day

38 Businesses Close Every Day

During 2017, on average 38 businesses closed each day. According to date from the General Directorate of Taxes, from January 1 until November 8 11,2000 mainly small businesses have decided to suspend their activities for an indeterminate time, changing their status to passive. This means that either the owner has decided to close their business, […]

IMF Worried about Government’s Economic Policies

IMF Worried about Government’s Economic Policies

In an interview with Monitor magazine, permanent IMF representative in Albania Jens Reinke has again expressed his worries about the 2018 fiscal package. Among other things, he declared that the absence of direct foreign investments is one of the reasons that the IMF has lowered its economic outlook for Albania during 2018. According to the IMF, […]

IMF Opposes Lowering VAT Threshold

IMF Opposes Lowering VAT Threshold

The International Monetary Fund has expressed its opposition against the Rama government’s initiative to lower the VAT threshold to include small businesses with an annual turnover between 2 and 5 million lekë per year, which so far had been excluded from VAT duties. In an interview with Monitor magazine, permanent IMF representative in Albanian Jens Reinke stated: […]

Rama Invites Foreign Investors, But Advises against Reading the News

Rama Invites Foreign Investors, But Advises against Reading the News

Yesterday morning Prime Minister Edi Rama opened the “Tirana Business Matching 2017” event in International Hotel Tirana, organized by the Chamber of Commerce of Tirana. The official aim of the event was to facilitate business meetings between foreign investors and Albanian entrepreneurs, and thus attract the direct foreign investments that have significantly decreased. But perhaps the main […]

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