• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/31/2013

Albania - Guidance for fiscal representative registration, bad debt deductions 

July 31: Guidance from the Ministry of Finance (approved as Instruction No. 17) sets forth the procedures for registering with the Albanian tax authorities and concerning tax payment obligations of “fiscal representatives.”

By following the instruction’s guidance, a fiscal representative will be issued (within two business days of submitting the required forms and documents) a registration certificate. The instruction also includes procedures for the “de-registration” of a fiscal representative.

Read a July 2013 report prepared by the KPMG member firm in Albania: Recent Amendments to the Instruction on Tax Procedures

Bad debts; cancellation of tax and customs debt

Concerning the requirements for writing off bad debts as deductible expenses for income tax purposes, new Instruction No. 14 introduces specific conditions that apply only to banks and non-banking financial institutions.

Also, the prior deadline of 31 March 2012 for application of a law on legalization of capital and partial cancellation of tax and customs debt was extended to 31 December 2013.

Read a June 2013 report prepared by the KPMG member firm in Albania: Recent Amendments to the Tax Legislation

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