VAT on Albanian tourism sector reduced to 6%, tourism businesses to earn over $ 2 million

Albanian tourism photos

 The reduction of the value added tax (VAT) about the lodging at the hotels eliminates a disadvantage to the tourism sector.

For years, Albania is the only country in the region, where tourism is taxed at the standard rate of 20 percent, while all other countries apply a tax rate significantly lower.

In Macedonia, the value added tax paid for the accommodation is only 5 percent. In Montenegro the accommodation in a hotel is taxed 7 percent, while in Kosovo and Serbia this tax is respectively 8 percent and 10 percent.

Even in Croatia, where the standard tax is 25 percent, in tourism is applied a differentiated scale, which is 13 per cent.

Albania joins the list of countries that apply lower taxes on tourism. A few days ago, the Albanian government approved a draft law that reduces tax sleep at the hotel from 20 percent to 6 percent.

According to official data from the Ministry of Finance the value added tax reduction facilitates hotels and accommodation facilities with about 2 million dollars a year. The government hopes that this measure will promote the formalization of the sector and will make Albanian tourism more competitive in the fierce regional competition for attracting tourists./Oculus News

VAT on Albanian tourism sector reduced to 6%, tourism businesses to earn over $ 2 million VAT on Albanian tourism sector reduced to 6%, tourism businesses to earn over $ 2 million Sunday, April 09, 2017 Rating: 5
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