Albania extends reporting deadlines

Due to the COVID-19 coronavirus pandemic, strict quarantine is in force in Albania. To prevent business bankruptcy, the government has adopted several laws that will make life easier for companies during downtime. The bill passed by the Albanian Parliament extends the tax periods of 2019 and 2020. It includes the following changes:

• extension of the deadlines for filing tax and accounting reports (including the balance sheet) until July 31, 2020;
• corporate tax payment for 2019 is postponed to the III and IV quarter of 2020;
• Payment of taxes for the I and II quarter of 2020 can be made until December 31 of the current year.

These exemptions will apply to all companies whose turnover does not exceed 14 million Albanian leks ($ 120,300). Organizations with a turnover of 5-8 million leks ($ 43,000- $ 68,700) using the simplified taxation system will have to pay taxes for the 1st and 2nd quarter by October 20, 2020, and for the 3rd and 4th quarter - by December 20, 2020.

Law&Trust International offers services for clients operating in Albania. Our lawyers will tell you more about the support measures applied in this state and other countries of the world. If necessary, our experts will help prepare and file documents for tax relief introduced in countries in connection with the COVID-19 pandemic.