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Zero taxes for startups in Albania to boost entrepreneurship

Staff writer |
The Prime Minister of Albania Edi Rama announced on a press conference that the government has cut taxes to zero for small businesses whose annual turnover is up to 50.000.000 Albanian LEK, or around 36,400 euros.

While any other business that has a turnover between 36,000 – 58,200 euros, while remain subject to VAT, while the tax on profit while drop from 7.5% to 5%.

Edi Rama promised that the Taxation Authority of Albania will move towards a more modern and friendlier approach, mimicking those that are enforced by modern European countries.

The latest move seems like quite a lucrative approach from Albania in terms of offering a suitable environment for startups and entrepreneurs, especially when the Eastern Europe region is becoming more interesting and countries like Macedonia, Kosovo and others are competing to lure businesses in, and create more jobs.

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