- Fiscalization in Albania aims to improve VAT compliance and reduce informality, especially in high-risk sectors like trade, construction, and services.
- The World Bank warns that fiscalization may increase administrative burdens and costs for businesses due to large data volumes unless compliance processes are simplified.
- Fiscalization is expected to boost VAT collection by 10-15% when fully implemented.
- Progress includes 77% of taxpayers obtaining electronic certificates and 57% of businesses issuing fiscalized invoices by early 2022.
- The government has temporarily removed penalties for small businesses and certain sectors until June 30, 2022, as part of the fiscalization rollout.
Source: balkanweb.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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