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Albania To Introduce Hotel Investment Tax Incentive

by Ulrika Lomas, Tax-News.com, Brussels

21 November 2017


Under changes included in Albania's 2018 fiscal package, approved recently by the Council of Ministers, tax on profits from four- or five-star hotel awarded "special status" will pay no tax on profits for a period of tens years.

The measures are intended to boost investment in the country's tourism sector and in particular the development of luxury accommodation.

In order to obtain special status, a minimum of EUR8m (USD9.4m) must be invested in a four-star hotel, and a minimum of EUR15m invested into five-star accommodation.

Five-star hotels meeting these requirements will also be exempt from the infrastructure tax.

In addition, the fiscal package includes a reduced six percent rate of value-added tax on services provided by special status five-star hotels. The standard rate of VAT in Albania is currently 20 percent.

If approved by parliament, most measures in the fiscal package will have effect from January 1, 2018.

TAGS: VAT rates | tax | investment | value added tax (VAT) | Albania | travel and tourism | services

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