LATEST AMENDMENTS TO TAX LAW

According to the Law no. 31/2019 “On Tax Procedures in the Republic of Albania”, which it has published in the Official Journal no. 99 of 10.07.2019, the natural persons registered for VAT purposes and legal persons (all tax categories) and non-governmental organizations registered at the tax authority are obliged to have and declare a bank account to this authority. The registration and declaration of the bank account should be made within 90 days from the entry into force of the Law no. 31/2019.

All taxpayers who register after the entry into force of this law are obliged to open and register the bank account in the tax authority within 20 days from the day after registration in the commercial register (NBC).

Failure to comply with the above will result in a fine ranging from LEK 25,000 to LEK 50,000 and if the violation continues it could even be doubled.