TIRANA, Oct. 24 (Xinhua) -- The Albanian government has partially exempted small businesses from value-added tax (VAT), Finance Minister Arben Ahmetaj told reporters Tuesday.
Businesses with an annual turnover up to 2 million leks (176,000 U.S. dollars) would not be included in the VAT scheme, he added.
Few weeks ago, the Albanian ministry of finance presented the budget for 2018 and its accompanying fiscal package where it was stated that all small businesses operating in Albania would be subject to VAT.
But following complaints and concerns raised by representatives of small businesses as well as economic experts, the government has amended the fiscal package for 2018, local media reported.
"Ambulatory salesmen, municipality food markets, artisans, will be left out of the VAT scheme. We are going to include only 9,000 businesses from 70,000 in total," Ahmetaj told the press conference.
He further informed that the proposed draft budget and fiscal policy had received approval at the Council of Ministers' meeting and was forwarded to parliament.
Small businesses make up a major part of industry in Albania.
A single purchase
