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BREAKING NEWS

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BREAKING NEWS

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BREAKING NEWS

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BREAKING NEWS

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Ekonomia

"The tax on salaries is reduced in July"/ Minister Mete presents the easing measures: In the public and private sector...

"The tax on salaries is reduced in July"/ Minister Mete presents the

In the month of June, some relief measures are expected to be introduced regarding the salary tax for employees in the public and private sector.

Minister of Finance Ervin Mete, present at the forum of the CEOs of the American Chamber of Business, said that the first increase in the assessment by "Standard&Poor's" for Albania, from B+ to BB-, is an assessment of the efforts to increase economic stability and the strengthening of public finances. Minister Mete said that this evaluation will further strengthen Albania's external positions and will be accompanied by concrete benefits for the country's economy.

"The country's economy is going through a good moment and this was also confirmed by Standard&Poor's. Macroeconomic indicators have improved significantly, Albania's external position has improved thanks to the very good performance of the tourism sector, which last year brought nearly 4.2 billion euros of income to the economy, with an increase of 47% compared to 2022. Foreign investments reached the highest historical level in 2023, of nearly 1.5 billion euros. Based on the very good income performance and in order to translate this good momentum that the economy is experiencing into a fairer distribution of well-being for citizens, we foresee that as a relief measure for employees, in the public and private sectors, starting from the month of July, let's increase the limit on which the upper rate of salary tax n is applied", said the Minister of Finance, among other things.

The Minister of Finance also said that the arrears decreased to the lowest level and that at the end of 2023 there will be no arrears in terms of VAT refunds for businesses.

"We are currently in the last steps of the constitution of the Tax Council, and I find the opportunity to once again invite the members of the American Chamber of Business to apply to become an active part of this Council. We are also in continuous communication with the International Monetary Fund to finalize a revised revenue collection strategy, with the aim of a more coherent strategy that takes into account recent macro-fiscal developments and indicators, with a focus on increasing fiscal governance and also in the spirit of maintaining a stability of fiscal legislation" - said Mete.

He ended his speech by underlining the fact that this good moment that the country's economy is going through, the improved macroeconomic indicators, as well as the evaluations received by international financial institutions further encourage efforts and determination to deepen the pace of reforms.

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