The EU candidate countries of Balkans are moderately prepared in the area of taxation. Some progress was made in every country with differeneces in areas of tax administration and capacities.
The document discusses tax trends in Luxembourg according to two OECD reports. It finds that Luxembourg's tax burden has increased slightly in recent years, though it remains below the OECD average. Luxembourg collects a higher proportion of taxes from corporate income, property, and social security than average, and a lower proportion from personal income and goods/services. Luxembourg's VAT revenues are below average as a percentage of total tax, and its standard VAT rate of 15% has not changed since 1992 and remains below the 19.1% OECD average. However, Luxembourg's VAT revenue ratio is far above average, suggesting its financial sector contributes to higher than expected VAT collections.
SYSTEMIC REPORT "PROBLEMS WITH ADMINISTERING BUSINESS TAXES IN UKRAINE" (OCTO...Iaroslav GREGIRCHAK
The Report commences by studying recently introduced system of the VAT electronic administration – one of the most turbulent issues for the corporate taxpayers in Ukraine – followed by the analysis of the current situation with VAT cash refund, which has historically been one of the most significant problems in the Ukrainian tax system. The third issue we paid attention to in the Report is the practice at the part of the tax authorities to abuse their authority to verify the actual location of the taxpayers by assigning taxpayers’ with the so-called “state 9 status”, which triggers various negative ramifications for the latter. The fourth systemic issue described in the Report is the problem with the tax audits carried out by the tax authorities. The last systemic problem studied in the Report is the inefficient functioning of the procedure of the so-called “administrative appeal” aimed at enabling taxpayers to challenge the malpractice of the tax authorities.
Our analysis of the foregoing systemic problems unveiled two major cross-cutting deficiencies attributable to the Ukrainian tax administration system as a whole. In our view, both of them require adequate redress, at least by ensuring that the contemplated amendments to the Tax Code are sufficiently effective.
First, it is the poor level of communication management of the Ukrainian tax authorities at all levels (including both the State Fiscal Service and tax authorities at the lower levels). Hence, there is a strong need to regularly disclose certain data and statistics to the public. Among other things it is expected that such an approach should enable the latter to better monitor the activities of the State Fiscal Service. The specific list of such information and/or data shall be elaborated in cooperation with the representatives of the public and non-governmental organizations. Yet, in our view, it may include, inter alia, amounts of incomings to the State Budget (with a breakdown into major taxes); amounts of VAT reimbursed and VAT outstanding for reimbursement; amounts of taxes overpaid by the taxpayers; amount of the taxpayers’ tax debt; number of tax audits with breakdown into various types of audits; number of appeals against the decisions of the tax authorities (with a breakdown into successful and non-successful), etc.
Second, the contemplated “tax reform” shall be implemented with the view of the subsequent predictability (stability) of the revised tax legislation. The respective principle has been historically embodied in Ukrainian tax legislation, but rarely complied with in practice. Over the past year, the tax legislation has been amended and changed many times, thus, provoking the public outcry and disturbing the normal day-to-day operations of the Ukrainian businesses. Hence, it is expected from the Government, that once the “tax reform” is implemented, it will not undergo further significant change for a reasonably long period of time.
The document summarizes various Latvian tax law changes and rates that took effect in 2011, including increases to the corporate income tax (CIT) investment allowance, the personal income tax (PIT) rate and tax-free threshold, social security contribution rates, real estate tax rates, excise tax rates on certain goods, and the introduction of a new bank levy. It also discusses new rules regarding VAT refunds, customs duties, and the passenger car tax.
The document summarizes the Ugandan government's tax proposals and plans for the 2013/2014 fiscal year. The proposals aim to raise revenue, improve tax compliance and administration, and encourage investment. Specific proposals include increasing various excise duties and fees, eliminating some VAT exemptions, expanding the scope of tax withholding agents, and granting some government agencies authority to retain non-tax revenues for local use. The government also plans to intensify tax enforcement efforts and clean up the VAT registration system to improve compliance.
The document analyzes the impact of cigarette excise rate increases in Rwanda from 2008 to 2016. It finds that increasing excise taxes led to a 17.4% reduction in cigarette consumption, meeting the health ministry's target. Price elasticity of demand for cigarettes was estimated to be between -0.474 to -0.532, indicating that a 1% price increase reduces consumption by 0.474 to 0.532%. Imported cigarettes had a more negative price elasticity than domestic cigarettes. The study recommends continuing excise tax increases to further reduce smoking, while also tightening anti-smuggling measures to prevent tax revenue losses.
Value added tax (VAT) is a consumption tax levied on the added value at each stage of production. VAT is widely used in European countries and is an important source of government revenue. The document defines VAT, describes how it is calculated using the addition, subtraction, and credit methods, and outlines the four phase process for implementing VAT. It also provides details on VAT rates and implementation in Macedonia and the European Union. In conclusion, VAT has been adopted by many countries as an effective indirect tax system.
This document presents a summary of a study assessing Zimbabwe's value added tax (VAT) system. The study aimed to establish how widening the tax base by restructuring zero-rated and exempt supplies could increase revenue collections. Preliminary findings showed that major zero-rated industries included mining, manufacturing, agriculture, and transportation. Simulations of standard rating sugar production and exempting both domestic and exported gold supplies reduced refunds and increased potential revenue. The conclusion recommends fine-tuning Zimbabwe's VAT system through continuous review and repositioning tax rates along supply chains.
The document summarizes key tax measures and issues in Italy's tax system. Some of the major changes include an increase in the standard VAT rate from 21% to 23% by October 2012, a new deduction for corporate equity allowing companies to deduct a percentage of increased equity, and the abolition of time limits for carrying forward tax losses. A new 20% flat tax rate was also introduced on income from financial investments.
The document discusses tax trends in Luxembourg according to two OECD reports. It finds that Luxembourg's tax burden has increased slightly in recent years, though it remains below the OECD average. Luxembourg collects a higher proportion of taxes from corporate income, property, and social security than average, and a lower proportion from personal income and goods/services. Luxembourg's VAT revenues are below average as a percentage of total tax, and its standard VAT rate of 15% has not changed since 1992 and remains below the 19.1% OECD average. However, Luxembourg's VAT revenue ratio is far above average, suggesting its financial sector contributes to higher than expected VAT collections.
SYSTEMIC REPORT "PROBLEMS WITH ADMINISTERING BUSINESS TAXES IN UKRAINE" (OCTO...Iaroslav GREGIRCHAK
The Report commences by studying recently introduced system of the VAT electronic administration – one of the most turbulent issues for the corporate taxpayers in Ukraine – followed by the analysis of the current situation with VAT cash refund, which has historically been one of the most significant problems in the Ukrainian tax system. The third issue we paid attention to in the Report is the practice at the part of the tax authorities to abuse their authority to verify the actual location of the taxpayers by assigning taxpayers’ with the so-called “state 9 status”, which triggers various negative ramifications for the latter. The fourth systemic issue described in the Report is the problem with the tax audits carried out by the tax authorities. The last systemic problem studied in the Report is the inefficient functioning of the procedure of the so-called “administrative appeal” aimed at enabling taxpayers to challenge the malpractice of the tax authorities.
Our analysis of the foregoing systemic problems unveiled two major cross-cutting deficiencies attributable to the Ukrainian tax administration system as a whole. In our view, both of them require adequate redress, at least by ensuring that the contemplated amendments to the Tax Code are sufficiently effective.
First, it is the poor level of communication management of the Ukrainian tax authorities at all levels (including both the State Fiscal Service and tax authorities at the lower levels). Hence, there is a strong need to regularly disclose certain data and statistics to the public. Among other things it is expected that such an approach should enable the latter to better monitor the activities of the State Fiscal Service. The specific list of such information and/or data shall be elaborated in cooperation with the representatives of the public and non-governmental organizations. Yet, in our view, it may include, inter alia, amounts of incomings to the State Budget (with a breakdown into major taxes); amounts of VAT reimbursed and VAT outstanding for reimbursement; amounts of taxes overpaid by the taxpayers; amount of the taxpayers’ tax debt; number of tax audits with breakdown into various types of audits; number of appeals against the decisions of the tax authorities (with a breakdown into successful and non-successful), etc.
Second, the contemplated “tax reform” shall be implemented with the view of the subsequent predictability (stability) of the revised tax legislation. The respective principle has been historically embodied in Ukrainian tax legislation, but rarely complied with in practice. Over the past year, the tax legislation has been amended and changed many times, thus, provoking the public outcry and disturbing the normal day-to-day operations of the Ukrainian businesses. Hence, it is expected from the Government, that once the “tax reform” is implemented, it will not undergo further significant change for a reasonably long period of time.
The document summarizes various Latvian tax law changes and rates that took effect in 2011, including increases to the corporate income tax (CIT) investment allowance, the personal income tax (PIT) rate and tax-free threshold, social security contribution rates, real estate tax rates, excise tax rates on certain goods, and the introduction of a new bank levy. It also discusses new rules regarding VAT refunds, customs duties, and the passenger car tax.
The document summarizes the Ugandan government's tax proposals and plans for the 2013/2014 fiscal year. The proposals aim to raise revenue, improve tax compliance and administration, and encourage investment. Specific proposals include increasing various excise duties and fees, eliminating some VAT exemptions, expanding the scope of tax withholding agents, and granting some government agencies authority to retain non-tax revenues for local use. The government also plans to intensify tax enforcement efforts and clean up the VAT registration system to improve compliance.
The document analyzes the impact of cigarette excise rate increases in Rwanda from 2008 to 2016. It finds that increasing excise taxes led to a 17.4% reduction in cigarette consumption, meeting the health ministry's target. Price elasticity of demand for cigarettes was estimated to be between -0.474 to -0.532, indicating that a 1% price increase reduces consumption by 0.474 to 0.532%. Imported cigarettes had a more negative price elasticity than domestic cigarettes. The study recommends continuing excise tax increases to further reduce smoking, while also tightening anti-smuggling measures to prevent tax revenue losses.
Value added tax (VAT) is a consumption tax levied on the added value at each stage of production. VAT is widely used in European countries and is an important source of government revenue. The document defines VAT, describes how it is calculated using the addition, subtraction, and credit methods, and outlines the four phase process for implementing VAT. It also provides details on VAT rates and implementation in Macedonia and the European Union. In conclusion, VAT has been adopted by many countries as an effective indirect tax system.
This document presents a summary of a study assessing Zimbabwe's value added tax (VAT) system. The study aimed to establish how widening the tax base by restructuring zero-rated and exempt supplies could increase revenue collections. Preliminary findings showed that major zero-rated industries included mining, manufacturing, agriculture, and transportation. Simulations of standard rating sugar production and exempting both domestic and exported gold supplies reduced refunds and increased potential revenue. The conclusion recommends fine-tuning Zimbabwe's VAT system through continuous review and repositioning tax rates along supply chains.
The document summarizes key tax measures and issues in Italy's tax system. Some of the major changes include an increase in the standard VAT rate from 21% to 23% by October 2012, a new deduction for corporate equity allowing companies to deduct a percentage of increased equity, and the abolition of time limits for carrying forward tax losses. A new 20% flat tax rate was also introduced on income from financial investments.
The UK government is mandating that businesses submit their VAT returns digitally through MTD starting April 1, 2019. This will require businesses to keep minimum VAT records digitally and submit their nine-box VAT return via an API. Businesses will need to ensure their accounting systems can facilitate the digital submission or consider upgrading systems. Additional records will also need to be kept digitally in the VAT account, though it does not need to be submitted initially. Grant Thornton provides services to help businesses test their data integrity, review VAT adjustments, ensure systems can support MTD, and submit digital VAT returns through an online portal.
UK: Are you ready for Making Tax Digital (for VAT)?Ksenia Skatchkova
From 1 April 2019, businesses with a turnover above the VAT registration threshold will be required to keep specified minimum records in their VAT account and to submit the current nine-box VAT return to HMRC via Application Program Interface (API) software.
UK: Briefing Paper - Are you ready for Making Tax Digital? Alex Baulf
The UK government is going ahead with its Making Tax Digital (“MTD”) programme, starting with VAT-registered taxpayers. From 1 April 2019, businesses with a turnover above the VAT registration threshold will be required to keep specified minimum records in the VAT account and to submit the current nine- box VAT return to HMRC via Application Program Interface (“API”) software (linking either the accounting system or excel spreadsheets to the HMRC system).
Portugal experienced a large increase in its VAT rate from 15% to 23% between 2008 and 2011 due to intervention from the Troika in response to Portugal's economic difficulties. This led to higher taxes being applied to many goods and services, including food and beverages. While the VAT increase generated more tax revenue for the government in the short term, it contributed to declining economic growth, rising unemployment, emigration, and a drop in general income and private consumption in Portugal. The fitness industry in Portugal, represented by AGAP, opposed further VAT increases but recognized the challenging economic situation made reductions unlikely. Therefore, AGAP's strategy was to advocate for disconnecting public awareness messaging from the VAT issue and encourage operators to manage their businesses
Poland as a digital pioneer in challenging tax fraudPwC Polska
The document provides information about Poland's implementation of Standard Audit File for Tax (SAF-T) reporting and a split payment mechanism for VAT.
It discusses how SAF-T reporting is now mandatory for Polish taxpayers on a monthly basis and includes data from VAT registers, invoices, accounting books, and other tax-related records in a standardized XML format. Non-compliance can result in fines up to 3 million PLN. The tax authorities use SAF-T data to identify discrepancies and select taxpayers for audit.
It also outlines Poland's proposed voluntary and automatic split payment mechanism for VAT. This would involve banks dividing VAT payments for business transactions into separate amounts for the net value and VAT, paid into different
Combating illicit tobacco trade is an issue that is being seriously
addressed by not only those in the tobacco industry but also governments around world and international bodies such
as World Health Organisation (WHO) and Interpol. According to an estimate by WHO, eliminating the illicit trade in tobacco would generate an annual tax of US $ 31 billions for governments. In Indian scenario, as per media sources, illegal Cigarette trade comprising international smuggled and locally manufactured tax-evaded cigarettes accounts for as much as 1/4th of the Cigarette Industry in India. According to studies by FICCI CASCADE (Committee against Smuggling and Destroying Economy), the grey market in the tobacco industry has grown significantly since 2010 and has grown from 15.7 percent in 2010 to 20.2 percent in 2012 - an increase of 28.7 percent. Government of India alone bears the losses
INR 13 billion per annum because of illicit tobacco trade. Based on the current tax rates on cigarettes, it is estimated that the
Government loses Rs. 13,000 crores per annum because of illegal cigarette trade.Taking a positive step in curbing illicit
tobacco trade, on 2-May-2018, The Union Cabinet Chaired by Prime Minister Shri Narendra Modi has given approval to
accede to the Protocol under World Health O rg a n i z a t i o n ( W H O ) F r a m e w o r k Convention on tobacco control to eliminate illicit trade in tobacco products. This is a welcome step and in view of this development, the article review the issue and solutions for combating it.
The 2016 Moroccan budget law introduced several changes to VAT:
1) It allows agribusiness firms to claim a notional VAT credit on local purchases of unprocessed agricultural products based on a ratio of past transactions.
2) It exempts importation of large aircraft, aircraft equipment, and dismantling services from VAT.
3) It exempts importation of railway equipment and trains from VAT.
4) It requires all companies except those under the flat tax to file VAT returns and payments electronically starting in 2017.
The document analyzes the impact of an Economic Partnership Agreement between the EU and Togo on Togo's customs revenues and the challenges of transitioning the tax system. It finds that tariff dismantling under the EPA will reduce Togo's customs duties from the EU by 55% by year 20, resulting in a 16% overall decrease in customs revenues. It also outlines Togo's fiscal transition program and actions needed to address expanding the tax base, promoting compliance, controlling exemptions, and fighting corruption to compensate for declining border revenues.
Fta brazilian taxadvices_for_international_investors Dec 2017Marcelo Couceiro
How doing business in Brazil is a basic summary of tax and corporate aspects international entrepeuners and executives need to understand on their strategic planning phase to enter in Brazil. We recomend as best practice request assistance to experts in order to carry out their business in compliance and adding value to your business.
This document is a lecture on taxation management from an MBA program. It discusses introducing concepts related to tax planning, tax avoidance, and tax evasion. Specifically, it defines tax planning as legal efforts to minimize tax liability, while tax avoidance uses loopholes and tax evasion is illegal. It also covers types of taxes, objectives of tax planning like reducing liability and promoting investment. Methods to plan taxes for house property and business income are presented, like deducting expenses. Factors affecting planning like residency status and form vs substance are also outlined. Students are assigned activities to research online resources on these topics.
The UAE government introduced excise tax on carbonated drinks, tobacco products and energy drinks in 2017 and has decided to charge the same on e-cigarettes, e-liquids and several soft drinks, commencing from December 1, 2019.
Taxation policy and performance in Malawi since independence by J KenaniIFPRIMaSSP
Malawi has witnessed a number of policy agendas and shifts in the area of taxation and revenue generation since gaining independence in 1964. The different taxation and revenue policies had separate objectives, including: increasing revenue generation; improving levels of investment and exports; improving tax collection efficiency and fairness; implementing and supporting Government development objectives and plans. The policies changes included changes in tax administration which led into the consolidation of tax administration into one Authority. The driving forces for the different policy agendas have been, among others, the Government itself and international multilateral and donor organizations, such as the International Monetary Fund (IMF). Conspicuously absent from the taxation policy debate, even after democratization in 1994, have been effective parliamentary and political party debate, civil society and the general public interest, engagement and involvement. Results of the tax and revenue policies have shown mixed outcomes. Whilst tax collection has in real terms continually increased, in terms of its ratio to GDP it has plateaued and remained at around 15-17% of GDP (lower than the rate for most countries at the same level of development). In addition, tax compliance levels are low and the tax base still remains very narrow despite the fact that the levels of entrepreneurship and informal business creation have increased over the years.
The paper traces, outlines and sequences the key taxation and revenue policy changes in Malawi since independence. The paper then analyses the objectives for each policy shift and agenda and assess the outcome and consequence of implementation- including by looking at the trend and performance of revenue collection. The paper also analyses the key influencers and drivers in tax policy initiation and development and on actual collection effort and performance- including by assessing the potential impact of aid assistance on tax collection effort and performance, and the role and place of taxation in public policy debate. From this historic analysis the paper makes relevant recommendations for policy in taxation and revenue generation.
The document provides an update on Italian tax law changes for spring 2017. It discusses updates to personal income tax (IRPEF) including new rates and deductions. It also covers corporate income tax (IRES) rate changes and a new optional tax (IRI) for unincorporated businesses. Finally, it summarizes changes to VAT and rules regarding tax compliance and evasion.
The newsletter provides updates on VAT and customs related changes from around the world, including:
1) Australia implementing GST on low value imports from overseas vendors from July 2017.
2) Colombia confirming an increase to the standard VAT rate from 16% to 19% effective January 2017.
3) The GCC finalizing amendments to the Unified GCC Customs Tariff 2017 effective January 2017.
4) Greece extending the reduced VAT rate regime for certain Aegean islands until December 2017.
- Value Added Tax (VAT) is an indirect tax levied on the increase in value of goods and services at each stage of production and distribution. It was first introduced in France in 1954 and has since been adopted by over 100 countries.
- Bangladesh introduced VAT in 1991 to replace sales tax and business turnover tax. The standard VAT rate is 15% and turnover tax rate is 4%. Excise duties are also included under the VAT system.
- The National Board of Revenue is the central tax collection authority in Bangladesh responsible for administering and collecting VAT.
Grant Thornton China tax bulletin - January 2015Alex Baulf
China Tax Bulletin aims to provide a prompt and high level overview on the latest tax rules released by various authorities, especially those by China SAT and local tax authorities. Implications for your business are also presented for the tax rules
Peru 2016 - Corporate and Tax Highlights by Gianmauro NigrettiGianmauro Nigretti
This document summarizes key information about doing business in Peru, including:
- Common forms of business organization are corporations and closed corporations. Corporations require a minimum of 25% of capital stock be paid and forbid contribution of services.
- Corporate income tax is currently 28% but will decrease to 26% by 2019. Resident companies pay tax on worldwide income.
- Individuals are taxed progressively up to 30% on income exceeding 45 times the annual tax unit. Domiciled individuals pay tax on global income while non-domiciled pay only on Peruvian source income.
- Peru has signed numerous double taxation treaties and is negotiating more. VAT of 18% applies to most goods
The Colombian tax system includes national, regional and municipal taxes. The main national taxes are the income tax, the value added tax (VAT), the consumption tax and the debit tax (GMF). Income tax is a levy on revenues realized within the taxable year that have the potential to increase taxpayer’s net equity and are not expressly excluded. The general income tax rate for national companies and permanent establishments is 33% for 2018 and following years. An additional 4% surcharge applies in 2018 for taxpayers with taxable income over approximately USD 275,862. Free trade zone users, excluding commercial users, have an income tax rate of 20%.
Obligatory relationship between the deficit and interest ratesALTAX Consulting
According to analysis of the statistical data from Bank of Albania (BoA) reports and bulletins regarding to the aggregate M1 and M2, the support of the core idea of this comment is due to efforts by the Bank of Albania to stabilize interest rates. This leads the system to respond to deficits by buying Government securities and/or taking other actions that result in increases in the money supply.
Given the fact that monetary policy implemented until now does not apply to this new way of monetary policy, due to the lack of effectiveness with the ordinary instruments, then it must convince the Parliament that the reduction of the budget deficit should not be a priority within a political mandate. Trying to adjustment and deficit reduction within a mandate might be a good idea as long as the fluctuations of liquidity in the economy will not occur or will be with periphery influence.
The UK government is mandating that businesses submit their VAT returns digitally through MTD starting April 1, 2019. This will require businesses to keep minimum VAT records digitally and submit their nine-box VAT return via an API. Businesses will need to ensure their accounting systems can facilitate the digital submission or consider upgrading systems. Additional records will also need to be kept digitally in the VAT account, though it does not need to be submitted initially. Grant Thornton provides services to help businesses test their data integrity, review VAT adjustments, ensure systems can support MTD, and submit digital VAT returns through an online portal.
UK: Are you ready for Making Tax Digital (for VAT)?Ksenia Skatchkova
From 1 April 2019, businesses with a turnover above the VAT registration threshold will be required to keep specified minimum records in their VAT account and to submit the current nine-box VAT return to HMRC via Application Program Interface (API) software.
UK: Briefing Paper - Are you ready for Making Tax Digital? Alex Baulf
The UK government is going ahead with its Making Tax Digital (“MTD”) programme, starting with VAT-registered taxpayers. From 1 April 2019, businesses with a turnover above the VAT registration threshold will be required to keep specified minimum records in the VAT account and to submit the current nine- box VAT return to HMRC via Application Program Interface (“API”) software (linking either the accounting system or excel spreadsheets to the HMRC system).
Portugal experienced a large increase in its VAT rate from 15% to 23% between 2008 and 2011 due to intervention from the Troika in response to Portugal's economic difficulties. This led to higher taxes being applied to many goods and services, including food and beverages. While the VAT increase generated more tax revenue for the government in the short term, it contributed to declining economic growth, rising unemployment, emigration, and a drop in general income and private consumption in Portugal. The fitness industry in Portugal, represented by AGAP, opposed further VAT increases but recognized the challenging economic situation made reductions unlikely. Therefore, AGAP's strategy was to advocate for disconnecting public awareness messaging from the VAT issue and encourage operators to manage their businesses
Poland as a digital pioneer in challenging tax fraudPwC Polska
The document provides information about Poland's implementation of Standard Audit File for Tax (SAF-T) reporting and a split payment mechanism for VAT.
It discusses how SAF-T reporting is now mandatory for Polish taxpayers on a monthly basis and includes data from VAT registers, invoices, accounting books, and other tax-related records in a standardized XML format. Non-compliance can result in fines up to 3 million PLN. The tax authorities use SAF-T data to identify discrepancies and select taxpayers for audit.
It also outlines Poland's proposed voluntary and automatic split payment mechanism for VAT. This would involve banks dividing VAT payments for business transactions into separate amounts for the net value and VAT, paid into different
Combating illicit tobacco trade is an issue that is being seriously
addressed by not only those in the tobacco industry but also governments around world and international bodies such
as World Health Organisation (WHO) and Interpol. According to an estimate by WHO, eliminating the illicit trade in tobacco would generate an annual tax of US $ 31 billions for governments. In Indian scenario, as per media sources, illegal Cigarette trade comprising international smuggled and locally manufactured tax-evaded cigarettes accounts for as much as 1/4th of the Cigarette Industry in India. According to studies by FICCI CASCADE (Committee against Smuggling and Destroying Economy), the grey market in the tobacco industry has grown significantly since 2010 and has grown from 15.7 percent in 2010 to 20.2 percent in 2012 - an increase of 28.7 percent. Government of India alone bears the losses
INR 13 billion per annum because of illicit tobacco trade. Based on the current tax rates on cigarettes, it is estimated that the
Government loses Rs. 13,000 crores per annum because of illegal cigarette trade.Taking a positive step in curbing illicit
tobacco trade, on 2-May-2018, The Union Cabinet Chaired by Prime Minister Shri Narendra Modi has given approval to
accede to the Protocol under World Health O rg a n i z a t i o n ( W H O ) F r a m e w o r k Convention on tobacco control to eliminate illicit trade in tobacco products. This is a welcome step and in view of this development, the article review the issue and solutions for combating it.
The 2016 Moroccan budget law introduced several changes to VAT:
1) It allows agribusiness firms to claim a notional VAT credit on local purchases of unprocessed agricultural products based on a ratio of past transactions.
2) It exempts importation of large aircraft, aircraft equipment, and dismantling services from VAT.
3) It exempts importation of railway equipment and trains from VAT.
4) It requires all companies except those under the flat tax to file VAT returns and payments electronically starting in 2017.
The document analyzes the impact of an Economic Partnership Agreement between the EU and Togo on Togo's customs revenues and the challenges of transitioning the tax system. It finds that tariff dismantling under the EPA will reduce Togo's customs duties from the EU by 55% by year 20, resulting in a 16% overall decrease in customs revenues. It also outlines Togo's fiscal transition program and actions needed to address expanding the tax base, promoting compliance, controlling exemptions, and fighting corruption to compensate for declining border revenues.
Fta brazilian taxadvices_for_international_investors Dec 2017Marcelo Couceiro
How doing business in Brazil is a basic summary of tax and corporate aspects international entrepeuners and executives need to understand on their strategic planning phase to enter in Brazil. We recomend as best practice request assistance to experts in order to carry out their business in compliance and adding value to your business.
This document is a lecture on taxation management from an MBA program. It discusses introducing concepts related to tax planning, tax avoidance, and tax evasion. Specifically, it defines tax planning as legal efforts to minimize tax liability, while tax avoidance uses loopholes and tax evasion is illegal. It also covers types of taxes, objectives of tax planning like reducing liability and promoting investment. Methods to plan taxes for house property and business income are presented, like deducting expenses. Factors affecting planning like residency status and form vs substance are also outlined. Students are assigned activities to research online resources on these topics.
The UAE government introduced excise tax on carbonated drinks, tobacco products and energy drinks in 2017 and has decided to charge the same on e-cigarettes, e-liquids and several soft drinks, commencing from December 1, 2019.
Taxation policy and performance in Malawi since independence by J KenaniIFPRIMaSSP
Malawi has witnessed a number of policy agendas and shifts in the area of taxation and revenue generation since gaining independence in 1964. The different taxation and revenue policies had separate objectives, including: increasing revenue generation; improving levels of investment and exports; improving tax collection efficiency and fairness; implementing and supporting Government development objectives and plans. The policies changes included changes in tax administration which led into the consolidation of tax administration into one Authority. The driving forces for the different policy agendas have been, among others, the Government itself and international multilateral and donor organizations, such as the International Monetary Fund (IMF). Conspicuously absent from the taxation policy debate, even after democratization in 1994, have been effective parliamentary and political party debate, civil society and the general public interest, engagement and involvement. Results of the tax and revenue policies have shown mixed outcomes. Whilst tax collection has in real terms continually increased, in terms of its ratio to GDP it has plateaued and remained at around 15-17% of GDP (lower than the rate for most countries at the same level of development). In addition, tax compliance levels are low and the tax base still remains very narrow despite the fact that the levels of entrepreneurship and informal business creation have increased over the years.
The paper traces, outlines and sequences the key taxation and revenue policy changes in Malawi since independence. The paper then analyses the objectives for each policy shift and agenda and assess the outcome and consequence of implementation- including by looking at the trend and performance of revenue collection. The paper also analyses the key influencers and drivers in tax policy initiation and development and on actual collection effort and performance- including by assessing the potential impact of aid assistance on tax collection effort and performance, and the role and place of taxation in public policy debate. From this historic analysis the paper makes relevant recommendations for policy in taxation and revenue generation.
The document provides an update on Italian tax law changes for spring 2017. It discusses updates to personal income tax (IRPEF) including new rates and deductions. It also covers corporate income tax (IRES) rate changes and a new optional tax (IRI) for unincorporated businesses. Finally, it summarizes changes to VAT and rules regarding tax compliance and evasion.
The newsletter provides updates on VAT and customs related changes from around the world, including:
1) Australia implementing GST on low value imports from overseas vendors from July 2017.
2) Colombia confirming an increase to the standard VAT rate from 16% to 19% effective January 2017.
3) The GCC finalizing amendments to the Unified GCC Customs Tariff 2017 effective January 2017.
4) Greece extending the reduced VAT rate regime for certain Aegean islands until December 2017.
- Value Added Tax (VAT) is an indirect tax levied on the increase in value of goods and services at each stage of production and distribution. It was first introduced in France in 1954 and has since been adopted by over 100 countries.
- Bangladesh introduced VAT in 1991 to replace sales tax and business turnover tax. The standard VAT rate is 15% and turnover tax rate is 4%. Excise duties are also included under the VAT system.
- The National Board of Revenue is the central tax collection authority in Bangladesh responsible for administering and collecting VAT.
Grant Thornton China tax bulletin - January 2015Alex Baulf
China Tax Bulletin aims to provide a prompt and high level overview on the latest tax rules released by various authorities, especially those by China SAT and local tax authorities. Implications for your business are also presented for the tax rules
Peru 2016 - Corporate and Tax Highlights by Gianmauro NigrettiGianmauro Nigretti
This document summarizes key information about doing business in Peru, including:
- Common forms of business organization are corporations and closed corporations. Corporations require a minimum of 25% of capital stock be paid and forbid contribution of services.
- Corporate income tax is currently 28% but will decrease to 26% by 2019. Resident companies pay tax on worldwide income.
- Individuals are taxed progressively up to 30% on income exceeding 45 times the annual tax unit. Domiciled individuals pay tax on global income while non-domiciled pay only on Peruvian source income.
- Peru has signed numerous double taxation treaties and is negotiating more. VAT of 18% applies to most goods
The Colombian tax system includes national, regional and municipal taxes. The main national taxes are the income tax, the value added tax (VAT), the consumption tax and the debit tax (GMF). Income tax is a levy on revenues realized within the taxable year that have the potential to increase taxpayer’s net equity and are not expressly excluded. The general income tax rate for national companies and permanent establishments is 33% for 2018 and following years. An additional 4% surcharge applies in 2018 for taxpayers with taxable income over approximately USD 275,862. Free trade zone users, excluding commercial users, have an income tax rate of 20%.
Obligatory relationship between the deficit and interest ratesALTAX Consulting
According to analysis of the statistical data from Bank of Albania (BoA) reports and bulletins regarding to the aggregate M1 and M2, the support of the core idea of this comment is due to efforts by the Bank of Albania to stabilize interest rates. This leads the system to respond to deficits by buying Government securities and/or taking other actions that result in increases in the money supply.
Given the fact that monetary policy implemented until now does not apply to this new way of monetary policy, due to the lack of effectiveness with the ordinary instruments, then it must convince the Parliament that the reduction of the budget deficit should not be a priority within a political mandate. Trying to adjustment and deficit reduction within a mandate might be a good idea as long as the fluctuations of liquidity in the economy will not occur or will be with periphery influence.
The partnership taxation regime treats a partnership as simply a conduit (rather than a taxable entity) through which the profit (income) or loss of the partnership are passed onto partners, who will report it together with other profits (income) or losses on their income tax returns. By doing so, so-called double taxation (i.e. one taxation at the entity level and another taxation at the partner level) can be avoided.
ALTAX Center (Albanian Taxation Center) has prepared a presentation that highlights some of the concerning issues about the minimum wage in Albania and around. Because the minimum wage labor is a contributor to the cost of economy we tend to examine the no and yes regarding the increase of the minimum and to evaluate the effects of this policy. Real minimum wage has increased more than two times since 2000. We conclude that the increases in the minimum wage are a useful means of raising wages in the lower part of the wage distribution that has little or no effect on employment and hours.
The purpose of the presentation of estimation is to have the attention of tax policy experts and analysts, as far as good also to attire the attention of group of interest and scholars. We aim to have opinions about this presentation. The calculation used in this document are based on INSTAT and Ministry of Finance Bulletins, and also in internal sources of ALTAX.
Alpha Business eshte programi me i mire per Kontabilitetin e Informatizuar ne Shqiperi
Trajnimi ofrohet ne disa nivele:
1. Perdorues Programi
2. Perdorues i Avancuar Programi
3. Administrator Programi
4. Administrator i Avancuar Programi
5 politika për tu zbatuar për të tkurrur pabarazinë e të ardhurave në shqipëriALTAX Consulting
Politikëbërësit shqiptarë duhet të marrin parasysh politikat për ulur pabarazinë, e cila po rritet përditë dhe në vetvete është një kërcënim për vlerat e brishta të shoqërisë shqiptare. Rritja e pjesës së të ardhurave për të varfërit dhe garantimi i një rritje të shtresës së klasës së mesme është në të vërtetë një vepër e mirë që politika mund të japë për rritjen ekonomike të vendit. Edhe pse faktorët dhe ndikuesit në rritjen e pabarazisë ndryshojnë nga njeri vend në tjetrin ka vend për të renditur disa politika që mundet të japin ndikimin e fortë në tkurrjen e pabarazisë.
Ky dUhdezim eshte parathenia e fillimit te orientimit te 1000 punonjesve fiskale ne administraten qendrore dhe mbi 500 punonjes lokale fiskale ne administraten lokale per zbatimin e procedurave tatimore per te filluar ngushtimin e evazioit fiskal dhe zgjerimin e ekonomise formale nepermjet masave ndeshkuese dhe certifikuese mbi praktika te reja dhe te paperdorura me perpara
Tax system and Investment climate in Albania, 2016ALTAX Consulting
This document is prepared by the experts of the AL-TAX, in a series of thematic collections, with the aim to become a source of discussion for those who are interested, or have inseparable connection with taxation in the implementation of their practices. Tax system and Investment Climate in Albania, 2016 aim to provide information to those considering investing or doing business internationally.
This is the fourth edition.
We've been very carefully to ensure that the information presented in this publication is correct and reflects the situation as of January 2016. The goal of the third edition of this collection is to provide general guidelines on investment and business in Albania and to compare them with the tax rules.
For further information on matters discussed in this publication please contact Eduart Gjokutaj, Tax adviser in AL Tax Center.
Treguesit ekonomikë dhe ndikimi në vendimmarrjen e investimeveALTAX Consulting
Ekonomia e Shqipërisë është duke hyrë në një modelim kompleks të ekonomisë . Asnjë tregues i vetëm nuk mund të sigurojë një tablo të plotë të asaj cfarë ekonomia është në të vërtetë. As nuk ka një kombinim të thjeshtë të treguesve, që sigurojnë një parashikim të plotë për të ardhmen. Në më të mirën e rasteve, çdo tregues mund të japë një pasqyrë të një sektori të caktuar të ekonomisë në një pikë të caktuar të kohës.
Në kontekstin e një zhvillimi të mëtejshëm nga qeveria të luftës së vështirë antiinformalitet, si dhe duke marrë parasysh edhe faktin se reformimi fiskal është duke ndodhur, pavarësisht shumë rezistencave dhe ngecjeve të tij, sugjerimi më i mirë është që ulja e TVSH-së për disa mallra bazë, përfshirë edhe energjinë elektrike, si dhe për disa sektorë ekonomikë që kanë nevojë të nxiten nëpërmjet normave fiskale duhet të fillojë tani.
Ky informacion është përgatitur nga ekspertët e AL-TAX dhe percon sqarimin per nevojen dhe plotesimin e deklarates mbi te ardhurat individuale.
Pavaresisht vitit te botimit te dokumentit, nisur nga fakti i mosnderrimit te legjislacionit per kete deklarim e konsideroj me vend publikimin per kujtese te gjithe individeve qe preken nga ligji per tatimin mbi te ardhurat. P
Analiza e thelluar mbi performancën e sistemit tatimor duhet të vlerësojë së pari nëse është produktive mbledhja e taksave sipas procedurave që egzistojnë dhe në situata të tilla rritja e të ardhurave nuk duhet të jetë objektivi kryesor i politikës fiskale.
Reforma e mbledhjes së taksave do të thotë më pak të ardhura në momentet e para dhe më shumë efikasitet për të ardhmen.
Coming back in Albania, based in the facts from the EU countries we should say that consumption will not be very sensitive to short-term fluctuations in income, because many consumers will add to or draw down their savings to smooth their consumption, and others may be able to repay or add to their debts in order to do so.
Ndryshimet në paketën fiskale 2016 (shih edhe VKM 37/2016)ALTAX Consulting
Per here te pare ne vitin 2016 aplikohen dy taksa te reja. E para eshte taksa e luksit per makinat me cilindrate me te madhe se 3000 cm3 dhe e dyta eshte taksa mbi truallin.
Nderkohe, taksa mbi tokën bujqësore dhe mbi ndërtesat nga 1 Janari 2016 aplikohet edhe mbi përdoruesit. Deri më sot taksa e pasurisë aplikohej vetëm për pronarët e tokës bujqesore dhe ndërtesave.
Po keshtu ka ndryshime baza e taksimit per renten e naftes, gazit, mineraleve, si dhe per kontributet e profesionisteve te lire.
Akciza ka nje rritje per bizneset qe nuk prodhojne/importojne mbi 200000 hl ne vit dhe nje ulje per bizneset qe jane mbi kete nivel tregtimi.
Ne lidhje me pagesen e kontributeve per profesionet e lira, rregullimi i llogaritjes do te behet sipas qarkullimit te biznesit. Pra, i vetepunesuari (administratori) do te paguaje me reference sipas volumit te xhiros dhe ky rregullim do te behet me akt nenligjor.
The Taxation trend in Western Balkans, 2016 publication is first edition of publication of tax policies and issues in the Western Balkans countries. The countries that compile the contents of this report are part of Western Balkans and are ranked based in alphabetic order. They are Albania, Bosnia and Herzegovina, Kosovo, Macedoni, Montenegro and Serbia.
The publication of policies and tax rates, together with the tax incentives for investors show both successful policies and reform challenges, as well as provide a good point of reference for individuals, scholars and businesses to participate in discussion around tax debates across a broader range of issues.
This presentation shows that taxes on capital are not enough to give to the economy the proper incentives if the indirect taxes are not harmonized with the direct taxes. The tax policy on the other hand is only part of the picture when looking at the contribution made to investments and economy.
Experience of merger of tax and customs for Albania future stepsALTAX Consulting
On the announcement of the merger between the General Taxation Directorate and General Customs Directorate that could be a new reality of administration of budget revenues in Albania in 2016 is the moment to say some considerations. Integration of customs and taxes has been a topic of interest for the World Bank, the IMF, OECD, and CIAT, among others, over the past decade.
Ky dokument prezanton rezultatet e metodologjisë së përdorur nga ekspertët e Nismës ALTax për llogaritjen e Ditës së Lirisë Fiskale, 2016. Një vlerësim i kësaj natyre bëhet për here të katërt në Shqipëri dhe ka hyrë në rrugën e traditës nga Nisma ALTax në ambientin ekonomik-fiskal shqiptar.
Objekti i prezantimit është niveli i barrës tatimore nga njëri qark në tjetrin, duke treguar për mundësinë që duhet të kenë në rritjen e të ardhurave nëpërmjet krahasimit me qarqe të ngjashme, në funksion të financimit të shpenzimeve për investime lokale dhe qendrore. Nga ana tjetër, secili qytetar që është kontributor në buxhetin e shtetit duhet të njihet me barrën tatimore që mban në raport me qytetarët në qarqet e tjera shqiptare dhe shtetet e Ballkanit, si dhe specifikisht Kosovën.
Të dhënat statistikore për qarqet janë objekt i analizave, sipas krahasimit të të dhënave të programeve buxhetore, niveli i realizimit dhe burime të ndryshme.
Struktura e këtij dokumenti përbëhet nga dy pjesë. Pjesa e parë është prezantim i të dhënave statistikore në nivel ndërkombëtar. Pjesa e dytë është një analizim dhe komentim i renditjes rajonale sipas barrës tatimore.
Është e nevojshme që në përpjekjet për të krijuar një grup të stimujve pozitive për të lëvizur nga informaliteti në formalitet të jepen si mundësi të përkohshme nga qeveria për kalimin vullnetar nga puna e padeklaruar në aktivitetet formale duke e zbatuar në praktikë në një mënyrë që është tërheqëse për bizneset informale, pa kosto shtesë dhe pa rreziqe sanksionesh.
Punësimi dhe investimet kapitale në shqipëri, 2016ALTAX Consulting
Një studim mbi punësimin dhe lidhjen me investimet që janë kryer në Shqipëri, në vitet 2014 – 2015. Qendra ALTAX (Albanian Taxation Association) prezanton në këtë studim analiza të treguesve të punësimit si dhe një përmbledhje të nivelit të tregut të punës dhe ndikimi që duhet ti vijë nga investimet kapitale. Ky publikim është edicioni i dytë, pas publikimit të vitit 2013.
The AL-Tax Center (Albanian Taxation Association) in this paper has introduced the challenges in the Central Tax
Administration focusing the discussion in the strategy work and in the structure based in governs priorities in this
year and in coming years.
The purpose of introducing this paper is about attracting the attention of lawmakers, taxpayers, international tax
administrators and the media.
This document is prepared by the experts of AL-TAX Center, in a series of thematic collections, with the aim of
becoming a source of discussion for all those interested that have integral relationships with taxes, organization of
administration and the implementation of their practices.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
The document summarizes recent indirect tax changes and cases in the UK. Key points include:
- The VAT and excise duty registration thresholds will increase, and most duty rates will increase in line with inflation.
- Countries are increasingly moving to a destination-based model for taxing digital services to reduce unfair competition.
- New rules have been introduced for the UK alcohol wholesale registration scheme to tackle fraud.
SYNERGY Global VAT/GST update – Overview of recent changes & what’s on the ho...Alex Baulf
The document provides an overview of recent global VAT/GST changes and developments that are on the horizon. It summarizes recent changes in countries like France, Ireland, India, Malaysia, China, and the US. It also discusses proposals for a pan-EU VAT return and changes coming into effect in the EU in 2015 related to the place of supply for electronic services. Key issues for businesses to consider in relation to the EU 2015 changes include pricing, customer location verification, data storage, and system requirements. The document concludes by mentioning the VAT Club which provides regular VAT updates and materials.
Global Indirect Tax Outlook - 2017 and BeyondDavid Duffy
What are the key global trends in indirect taxes?
"Global Indirect Tax Outlook - 2017 and Beyond" written by myself, Philippe Stephanny and Donald Hok has been now published in Bloomberg's July 2017 edition of "Tax Planning International".
The document outlines fiscal and structural policy commitments and actions that Greece agrees to take in consultation with the European Commission, European Central Bank, and International Monetary Fund staff. This includes adopting a supplementary 2015 budget and 2016-2019 fiscal strategy with a primary surplus target. Key reforms include VAT reforms, pension reforms such as reducing early retirement benefits and increasing retirement ages, healthcare reforms like reducing drug prices, and tax reforms including closing tax loopholes and raising some corporate and income tax rates.
Building a modern Catalan Tax Administration: a case study - EAPC, 1 June 2018Albert Castellanos Maduell
The document summarizes the experience of building a modern tax administration in Catalonia. It describes the initial weaknesses of the Catalan tax system during the financial crisis, including deficiencies in managing taxes, workforce issues, and outdated systems. A 5-year transformation plan was implemented with 6 priority areas to strengthen the tax administration and address these weaknesses. Results included the creation of new taxes and bodies, expanded offices and services, increased collection of unpaid debts and fraud, and budget/workforce growth. Future challenges include further preventing fraud, developing proximity services, promoting cooperation, and consolidating the digital and functional transformation.
Highlights - Tax policy reforms in the OECDOECDtax
This is the first edition of "Tax Policy Reforms in the OECD". This annual series of reports aims to track and compare tax policy developments over time across OECD countries.
With a number of recent and upcoming developments in the OECD’s international tax agenda, we invite you to join a live webinar with experts from the Centre for Tax Policy and Administration for an update on our work in the context of the COVID-19 crisis.
Website: http://oe.cd/taxtalks
issue 4/2014 of Indirect Tax News.
This newsletter informs readers about issues of practical importance in the field of VAT and similar indirect taxes, such as GST. Experts from all over the world provide first-hand information on recent developments in legislation, jurisdiction and tax authorities’ opinions and Directives.
Legislative measures with significant impact in certain industry sectors introduced by the Government Emergency Ordinance No. 114/ 2018 implementing measures in the field of public investments and fiscal-budgetary measures, amending and supplementing normative acts and extending certain deadlines.
The government of Ghana replaced Sales and Services Tax with Value Added Tax (VAT)) in March 1998 with the aim of widening the tax net and improving the efficiency of tax administration. It has been 17 years since VAT was introduced in Ghana, but the VAT systems have not achieved most of its objectives due to many compliance challenges. VAT strives on voluntary compliance and accurate bookkeeping because VAT is self-assessed. This paper examines the various compliance challenges facing VAT administration in Ghana and makes recommendations for improving voluntary compliance and efficient VAT administration. Semi-structured interviews were conducted with VAT Administrators and taxable persons to ascertain their perceptions on the major challenges confronting compliance and how best to address them. The study found out that VAT compliance is low partly because VAT registration and filing procedures are too complex for the small traders. Also most businesses fail to keep proper books of accounts on which accurate VAT assessment could be done. In addition many taxpayers fail to comply because they have negative perception about how the government uses tax revenue. The paper makes many recommendations that could be implemented to improve VAT compliance in Ghana. These include implementation of electronic VAT registers; simplification of VAT registration and filing procedures, decentralization and ensuring regular VAT Audits.
It is not a surprise that the whole world is getting more and more digital, but it is important to acknowledge, that so are the tax authorities in requirements they now set froth towards taxpayers.
OECD’s model of SAF-T files (followed by Polish JPK, Lux FAIA or Lithuanian i.SAF) and many other forms of more or less standardized types of electronic audit files are currently being required all over Europe. In the other corner huge amount of businesses struggling to make their ERP capturing all transactions in VAT compliant manner.
Feeling lost and overwhelmed with all the mixture of IT and tax regulations? We hope the attached slide deck would give you an overview of the topic.
Capgemini provides European tax reporting services for over 10 years for 23 European countries. They prepare over 200 tax and intrastat reports regularly. Their highly skilled tax experts analyze tax reports in local languages to ensure 100% tax compliance and on-time report submissions. Their services help clients increase profitability through optimized tax processes and focus on core business goals rather than tax compliance tasks.
On 2 December 2016 the Law Decree 22 October 2016 n. 193 (“Tax decree”) completed its legislative process with the publication in the Official Gazette of the consolidated text, post amendments, occurred at the time of the conversion into Law. Some of the adopted measures are a way to implement the new strategy of the Tax Administration to prevent tax evasion and to reduce the VAT gap. Most of the measures have the aim to modernize the way in which taxable persons accomplish VAT fulfillments, so that these latter can be more effective, leveraging on an intense use of electronic means. Grant Thornton Italy summarize in this VAT Alert, the main changes on VAT rules deriving from the final text of the new provisions.
Oman has become the 4th GCC or Gulf Cooperation Council member state that introduced VAT or Value Added Tax regulations. The date of VAT implementation in Oman is the 16th of April, 2021. This is a significant move in relation to VAT in the GCC member states since Saudi Arabia significantly increased the rate for VAT in the country to fifteen percent from five percent back in May 2020.
The move of Saudi Arabia, as reported by the BBC, shores up state finances at the start of the COVID-19 pandemic. Saudi Arabia’s move was also to diversify the economy in order to reduce the country’s reliance on income from oil and gas.
Similar to EC Progress Report 2015 FOR BALKANS (20)
Ndërsa janë potencialisht të dobishme, PPP-të mbartin shqetësime që kanë nevojë për vëmendje. Pavarësisht nga modeli i realizimit të infrastrukturës së zgjedhur, projektet e infrastrukturës, të cilat zakonisht janë voluminoze dhe afatgjata, paraqesin një sërë rreziqesh - teknike, ndërtimore, operative, financiare, ekspozim ndaj forcave madhore, rregullatore / politike, modifikim projekti, mjedisore dhe sociale. PPP-të nuk janë të imunizuara ndaj këtyre çështjeve, duke kërkuar në të gjitha rastet një kuadër të fortë analitik që mund të shmangë kostot shtesë dhe maksimizimin e vlerës për të gjithë palët, me qëllime afatgjata për garantim të infrastrukture më cilësore.
If we try to prepare the balance sheets of political assets in the economy we can found an imbalance. The political election process and the economy are seen by political leadership, as “bones” thrown to citizens. The political leadership, after eating “the flesh” of the economy has thought that in some years might push economic growth. In this point of view it is clear that the names of current leadership for this bad and political instable situation are within history mentioned in this writing.
Reforms, technology and leadership will help Albanians toward the next stormALTAX Consulting
Knowing the situation, which economy will go through the economic challenges ahead will require Albanian leaders to have a clear sense of direction and steady but decisive hands on the tiller. The current environment still offers the opportunity to advance policies and reforms and build fiscal and financial scenarios for sustainable, robust, and inclusive growth. Albanian leaders need to take advantage of this moment.
Një ambient ekonomik dhe fiskal, që përmirëson klimën për investime është ndihma më e madhe që qeveria i mundëson bizneseve për të rikuperuar vlerën e investimeve dhe mundësinë e depërtimit në tregje më të mëdha dhe konkurruese.
TREGU, MARRËDHËNIET E PUNËS DHE LIDHJA MIDIS INFORMALITETIT, KONKURUESHMËRIS...ALTAX Consulting
Analiza e sektorit të industrisë nxjerrëse e parë nën optikën e zhvillimit të tregut të punës dhe formalizimit të tij përcillet në këtë studim me synimin për tu bërë një vlerë e shtuar për transaparencë në debatin mbi formalizimin dhe forcimin e kulturës së dialogut midis punëdhënsit, punëmarrësit të përfaqësuar në organizata dhe institucioneve publike.
Një nga synimet që kërkohet të arrijë studimi është mundësimi për politikëbërësit dhe administrata, studiuesit dhe kërkuesit, analistët, media, si dhe qytetarët për të parë se si shpërndahet përgjegjësia e dialogut social dhe si realizohet pushteti që votuesi i ka dhënë politikës në gjithë këto vite të fundit.
Qëllimi kryesor i studimit është:
- promovimi i forcimit të kulturës së dialogut social dypalësh dhe tripalësh duke ndikuar në përmirësimin dhe rritjen e autonomisë së Partnerëve Socialë.
- rritja e kapaciteteve të organizatave sindikale për të monitorurar dhe rritur zbatueshmërinë e standardeve të punës dhe rritjes së pagës minimale që të shërbejë si një faktor që ka potencialin për të rritur legjitimitetin e kauzës sindikale
- argumentimi i formalizimit të punës nëpërmjet identifikimit, adresimit dhe dhënies së mendimeve për zgjidhjen e integruar të problematikave që shoqërojnë punësimin dhe prezantimin e mekanizmave për formalizimin e tregut .
Kjo mënyrë prezantimi jep mundësinë për të vazhduar më tej konsolidimin e marëdhënieve të punës, si dhe fuqizimit të luftës ndaj informalitetit dhe ngushtimit të evazionit duke forcuar konsolidimin e buxhetit dhe zërit buxhetor për shpenzimet publike sociale të kryera në kuadër të transparencës së financave publike.
With the fiscal performance analysis for the fiscal period 1996 - 2016, we aim to show whether the public expenditures have been able to meet the budget target of revenue collection according to the government's objectives, and whether progress is made towards achieving the goals politics of left and right governments.
The study was conducted through many sources of information, where data and information were crucified to verify accuracy. The statistics report and analysis has gone through the stages of (a) statistical survey, (b) aggregation of data, and (c) processing and analysis.
The main source is the data of the Fiscal Bulletin of the Ministry of Finance and Economy, and Fiscal Programs of Governments of 20 years. Other sources used are documents from the Institute of Statistics, Annual Reports of the Bank of Albania, Taxes, Customs and other central institutions, institutes and local and foreign organizations.
Views and comments from public finance experts, scholars and academic staff, or interested parties are welcomed to reach the most accurate assessment based on typical methodology and correct data. The study report is divided into three parts.
For comment on the report, you can contact altax@altax.com .
JEL codes: H20, H51, H54, H63, H71,
Keywords: labor taxes, capital taxes, fiscal productivity, Albania, taxes, VAT, budget incomes, public spending
The authors' electronic address: aurelaaliaj@altax.al and edigjokutaj@altax.al
The publication you can download HERE !
Me analizën e performancës së buxhetit për periudhën fiskale 1996 - 2016 synojmë që përmes konstatimeve të fakteve të tregojmë nëse shpenzimet publike kanë arritur të përmbushin qëllimin buxhetor të mbledhjes së të ardhurave sipas objektivave qeverisëse, si dhe nëse është arritur të bëhet progres drejt arritjes së qëllimeve politike të qeverive të majta e të djathta.
Studimi është realizuar nëpërmjet shumë burimeve të informacionit ku të dhënat dhe informacionet u kryqëzuan për të verifikuar saktësinë. Raporti dhe analiza e statistikave ka kaluar në etapat e (a) vrojtimit statistikor, (b) përmbledhjes dhe grupimit të të dhënave dhe (c) përpunimit dhe analizës.
Burimi kryesor i përket të dhënave të Buletinit Fiskal të Ministrisë së Financave dhe Programeve Ekonomike dhe Fiskale të qeverive të 20 viteve. Burime të tjera të përdorura janë dokumente nga Instituti i Statistikave, Raportet Vjetore të Bankës së Shqipërisë, Tatimet, Doganat dhe institucione të tjera qendrore, institute dhe organizata vendore dhe të huaja.
Janë të mirëpritura mendimet dhe komentet nga ekspertë financash publike, studiuesë dhe stafe akademikë, apo palë të interesuara për të arritur në vlerësimin më të saktë të mundshëm bazuar në metodologjinë tipike dhe të dhënat korrekte. Raporti studimor është ndarë në tre pjesë. Për komente mbi raportin, ju mund të kontaktoni altax@altax.com .
Ky publikim eshte version i shkurtuar
Publikimin e plote shkarkoje te linku
http://altax.al/al/publikime-te-altax/product/performanca-e-buxhetit-shqiptar-1996-2016
Qeverisja e mirë duket nëse është në funksion të rritjes ekonomike dhe mirëqenies së individëve, kur ajo inkurajon prodhimin dhe çkurajon grabitjen. Akoma më e qartë kjo duket, kur ajo qëndron më shumë si forcë neutrale duke mbrojtur të drejtat e pronësisë dhe zbatimin e kontratave ligjore.
Përjashtimi nga TVSH-ja në shitjet me pakicë e dëmton neutralitetin e TVSH-se pasi fitimi kufi në këtë fazë të qarkullimit varet jo vetëm nga cilësia e mallit/shërbimit por dhe nga shitësi.
Përjashtimi i bizneseve nga TVSH-ja nuk e përjashton konsumatorin përfundimisht nga TVSH-ja.
Përjashtimet vetëm zvogëlojnë relativisht shumen e tatimit për t’u paguar. Pra, nga njëra ane përjashtimi i bizneseve nga TVSH-ja duhet te bazohet mbi kritere sasiore dhe cilësore, qe nuk duhet te mbartin arbitraritet mbi sektorët e tjerë dhe mbi ekonominë.
Taksa është një pagesë e detyrueshme dhe e pakthyeshme në buxhetin e e shtetit dhe që paguhet nga çdo person që ushtron një të drejtë apo përfiton një shërbim publik. Objekti i taksës është mbushja e arkës së buxhetit të shtetit. Ndërsa tarifa është një pagesë e natyrës vullnetare, e vendosur nga qeverisja vendore apo qendrore, në këmbim të shërbimeve të veçanta që bëhen në interes të publikut, por që i japin një avantazh personit që paguan në krahasim me të tjerët (p.sh. tarifat e pajisjes me leje lundrimi).
Tatimi mbi pronën e paluajtshme: Si ta vlerësojmë rolin duke ndjekur shembuj...ALTAX Consulting
E varur gjerësisht në objektivat e politikës fiskale të gjithë vendet ndryshojnë dukshëm në lidhje me përdorimin e burimeve të ndryshme të taksimit mbi pronën. Shumë vende e vendosin theksin e taksimit mbi pronën te garantimi i një burimi të qëndrueshëm dhe me peshë në rritje të të ardhurave. Ndërsa vende të tjera e vënë theksin te rritja e të ardhurave në përgjithësi duke promovuar progresivitetin dhe ndershmërinë e sistemit tatimor.
Political patronage and the state in Albania during last decadeALTAX Consulting
Patronage is not produced by political parties acting as unitary actors. It is rather prompted by political entrepreneurs that thrive inside the two major parties, which, despite their commonly loose organizational structures and blurred ideological positions, are destined to alternate in office. A two-way logic seems to develop: the parties need those entrepreneurs who, through developing patronage networks, bring in voters, and the political entrepreneurs need the parties, especially when in office, for offering them access to state-related spoils. There is, however, an unintended consequence.
Për tu arritur diversifikimi i ekonomisë duhet që më tej të forcohet stabiliteti makro ekonomik nëpërmjet përdorimit të harmonizuar të produktivitetit të industrisë nxjerrëse me industrinë elektro-energjetike në ekspansion, si dhe nxitjes së industrisë agrare në funksion të industrisë së turizmit duke krijuar baza furnizimi me cikël vjetor. Tranzicioni i diversifikimit ekonomik në këto drejtime zhvillohet duke i trajtuar ato si pjesë e vizionit, duke përdorur të njëjtën logjikë fiskale dhe financiare që përdoret për zonat e lira teknologjike dhe ekonomike.
Programet për zhvillimin e ekonomisë janë fokusuar në dy apo tre sektorë, por kanë arritur të jenë vetëm suksese afatshkurtra dhe me pak ndikim në zhvillimin afatgjatë që garanton vijimësi dhe stabilitet në rritjen ekonomike dhe mirëqenie qytetare. Orientimi në funksion të zhvillimit ekonomik afatgjatë është të punojmë fort për të bërë bashkë pjesët e ekonomisë, që ndikojnë në zhvillimin e saj në një vend, kohë të caktuar dhe vizion të përbashkët. Në të kuptuarit drejt të thelbit të këtij diskutimi ne jemi të mirëqasur me programe për zhvillim duke kërkuar të përshtatim adresim të kushteve dhe mundësive për tu realizuar me një impakt të zgjatur në ekonominë e së ardhmes. Ne nevojitet të qartësojmë fokusin për programet tona zhvillimore.
Politikat sociale të bëra me idenë e favorizimit nga taksat janë joefektive në kuptimin e tyre social. Gjithashtu, kjo formë ndihmese shtrembëron kolonën sistemit fiskal: barazinë. Ajo gjithashtu komplikon administratën fiskale dhe e bën më të kushtueshme, pasi mbrapa vjen gjithnjë korrupsioni.
Ulja e taksave nuk është më në modë. Ekonomia konkurruese dhe zbatimi i ligjit po. Ulja e taksave tregon dobësi te ekonomisë dhe politikes, qe përpiqen te maskohen poshtë "kostumit" te lehtësirave fiskale dhe uljes se taksave. Ulja e taksave janë mashtrim ne një ekonomi informale.
Nevoja per te orientuar dergesat e parave dhe kontributet e emigranteve drejt investimeve dhe ekonomise prodhuese duhet te jete nje prioritet per qeverine dhe perfshirjen e tyre si instrumenta reale per ekonomine.
Ne kete mes qeveria mundet te asistoje gjithe komunitetin qe kontribuon ne ekonomine shqiptare nepermjet dergesave te parase duke stimuluar si mekanizmin e dergesave, po ashtu edhe formalizimin e tyre brenda ekonomise formale.
Mundet ekonomia shqiptare të krijojë punësim masivALTAX Consulting
Edhe pse është përmendur edhe më parë, përsëri mbetet logjika ekonomike, se zbatimi i Strategjisë dhe akteve ligjore për nxitjen e punësimit të shoqëruara nga vullneti i sinqertë i politikanëve do ta rriste ekonominë nëpërmjet tregut të punës në Shqipëri, të paktën në tre mënyra:
1. Hapje vende pune sa më pranë nevojave të pushtetit vendor dhe ekonomisë lokale, të cilët kryejnë direkt programet lokale dhe mbështetin nismat e pushtetit qendror;
2. Mbështetje e programeve për vendet e punës indirekte dhe të bashkëlidhura me projektet vendore duke krijuar rrjetin e profesioneve dhe punëve të nevojshme dhe të munguara apo të harruara për komunitetin;
3. Nxitja e konkurueshmërisë në tregun e brendshëm me objektiv tregun rajonal nëpërmjet konkurrencës me diferencën që përmban produkti i tokës dhe ekonomisë shqiptare.
Deklarata Individuale e të Ardhurave Vjetore, 2017 ALTAX Consulting
Sqarime për mënyrën e deklarimit dhe pagesës së tatimit mbi të ardhurat individuale, 2017.
Dokumenti i përgatitur nga ekspertët e ALTAX CENTER synon të sqarojë ato pika që mbeten ende të paqarta pas leximit të ligjit dhe udhëzimit për tatimin mbi të ardhurat.
Deklarata e tatimit mbi të ardhurat individuale vjetore është një formë që plotëson më mirë shpërndarjen e barrës së tatimeve edhe mbi individë që nuk janë të njohur dhe nuk kanë qenë objekt tatimi të mbajtur në burim. Kjo kategori tatimpaguesish i përket edhe individëve që realizojnë të ardhurat nga kapitali (qeradhënia e aktiveve)
Nga ana tjetër, duke reflektuar në këtë dokument sqarues edhe reagimet nga individët e interesuar për të zbatuar korrektësisht detyrimet që lindin nga zbatimi i ligjit arrihet edhe një njohje më e thelluar e zbatimit te tatimit mbi të ardhurat individuale.
PERFORMANCA E SEKTORIT HIDROKARBUR DHE CMIMI I KARBURANTEVEALTAX Consulting
Dhoma e Tregtisë dhe Industrisë në vizionin për të bërë propozime sa më të plota dhe me argumenta të mirëfillta teknike te politikëbërësit, nisur nga interesat dhe kërkesa e biznesit të Durrësit, si dhe duke e parë se interesi për diskutimin e çmimit të karburantit është në nivel kombëtar ka koordinuar me qendrën studimore ALTAX për përgatitjen e një raporti mbi argumentimin për ndikimin e shoqatave të biznesit dhe qeverisë për të ndikuar në uljen e çmimit të karburantit.
Raporti i përgatitur për këtë qëllim synon të paraqesë një historik të situatës të tregut aktual dhe faktorëve që kanë ndikuar në çmimet e tregtimit të karburanteve duke e ndërthurur me industrinë vendase dhe atë rajonale dhe të vendeve të BE-së. Në konkluzion të idesë përse është përgatitur ky raport argumentohen disa propozime që forcojnë idenë për leverdinë ekonomike nga ulja e çmimit të karburanteve.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Calculation of compliance cost: Veterinary and sanitary control of aquatic bi...Alexander Belyaev
Calculation of compliance cost in the fishing industry of Russia after extended SCM model (Veterinary and sanitary control of aquatic biological resources (ABR) - Preparation of documents, passing expertise)
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
1. LAW. TAX. TRANSPARENCY
EC PROGRESS REPORTS OF BALKANS 2015
CHAPTER 16: TAXATION
EC Progress
Report 2015 -
SERBIA
EC Progress
Report 2015 -
MONTENEGRO
EC Progress
Report 2015 -
MACEDONIA
EC Progress Report
2015 - ALBANIA
EC Progress Report
2015 - KOSOVO
On indirect
taxation, no
progress can be
reported on value
added tax (VAT).
Excise legislation
still contains some
discriminatory
measures on
imported spirits
and coffee. Excise
duty on electricity
and on electronic
cigarettes was
introduced, as of
August.
On indirect
taxation, in
January 2015
Montenegro
transferred the
competence on
excises from the
tax administration
to the customs
administration.
Value added tax
(VAT) rates were
amended to
further align with
the VAT Directive.
Inter alia, the new
rules also ensure
full alignment with
the acquis on the
exemption from
VAT and excise
duty for goods
imported by
persons travelling
from third
countries. A
rulebook
concerning the
refund of excise
duty on mineral oil
was adopted,
relevant to acquis
requirements.
Having repealed its
excise duties on
coffee on 1
January 2015,
which had a
discriminatory
component; in
February
Montenegro
introduced a new
tax on raw and
On indirect
taxation,
amendments to the
Law on Value Added
Tax (VAT) came into
force in January
2015. The legal
basis for ‘e-invoices’
was established.
Processing of VAT
refund requests
within the legal
deadline improved.
Regarding excise
duties, a duty was
introduced on
petroleum coke and
cigarette taxes were
increased. A new
law on prohibiting
and preventing
unregistered
activities was
enacted in
December 2014 to
reduce the informal
economy and
strengthen
cooperation
between different
authorities.
On indirect taxation,
the new value added
tax law and
implementing
legislation came into
force in January. The
law seeks alignment
with the VAT Directive
but still contains
exemptions (zero
rates) which are not in
line with the acquis. It
sets clear deadlines
for payment of VAT
refund claims.
Measures were taken
to refund almost all
VAT arrears.
Legislation on VAT and
on tax procedures was
amended in July to
provide for the
establishment of a
central unit within the
General Directorate of
Taxation which will
process VAT
reimbursement
requests based on a
risk model, with the
aim of shortening the
duration of the
procedure.
Implementing
instructions on some
VAT exception
procedures were also
adopted in June. The
excise law was
amended in
December, increasing
excise duties on
tobacco products,
making changes to
Despite an overall fall
in imports, the 2014
reorganisation of the
customs
administration
resulted in an
increase of 3.9 % in
the collection of
revenues compared
with 2013 and new
systems reduced the
scope for corruption.
2. LAW. TAX. TRANSPARENCY
roasted coffee. excise duty on energy
drinks and removing
excise duty on natural
bitumen. Further work
is needed to align
excise rates with the
acquis.
On direct taxation,
the amended law
on profit tax
passed in
December exempts
humanitarian aid,
and assistance
provided to
different levels of
government
On direct taxation,
the tax rate on
gross personal
income over EUR
720 per month was
reduced.
There was progress
on direct taxation.
The profit tax law
was amended so
that since 1 January
2015 taxation is
based on annual
profit and no longer
on distributed
profit. Taxation of
gains from games of
chance and betting
was further
improved with the
introduction of
obligatory
automated IT
tracking of
payments.
Amendments to the
Law on Personal
Income Tax enacted
in July include the
regulation of the
fiscal treatment of
capital gains on sale
of real estate.
On direct taxation,
the rate of personal
income tax levied on
income from shares,
rental of immovable
property and
copyright was raised
to 15 %, while income
deriving from
voluntary pension
schemes became
exempt. Further steps
remain necessary to
improve transparency
and public
consultations on
drafting fiscal
legislation.
In taxation, Kosovo
has started to
implement the 2014-
2018 strategy and
action plan for
preventing and
combating the
informal economy,
money laundering
and financing of
terrorism.
On administrative
cooperation and
mutual assistance,
Serbia signed an
agreement to join
the Fiscalis 2020
programme, which
came into force in
July
The law on tax
administration was
amended in
February, to
improve the
collection of taxes
and other duties,
particularly where
a taxpayer fails to
settle their tax
obligations. The
amendments also
introduced the
fiduciary transfer
of property
ownership as a
new means of
ensuring tax
Progress was made
in administrative
cooperation and
mutual assistance.
The country was
assessed as largely
compliant with
phase 2 of the peer
review conducted
under the OECD
Global Forum on
Transparency and
Exchange of
Information for Tax
Purposes. The
recommendations
of the peer review
report should be
As regards
administrative
cooperation and
mutual assistance,
Albania has been
participating in the
EU’s Fiscalis 2020
programme since
January. The tax
administration is
cooperating with the
Italian revenue agency
on transfer pricing
issues under the OECD
programme ‘Tax
inspectors without
borders’. Agreements
on avoidance of
In 2015, Kosovo
applied to join the
Common Transit
Convention and
signed bilateral
agreements with
Albania on trade
facilitation, including
common transit, and
on cooperation in
criminal customs
matters with the
United Kingdom. The
exchange of pre-
arrival electronic
information with
regional customs
administrations is
3. LAW. TAX. TRANSPARENCY
collection, and
several tax laws
were amended,
including on
property tax and
on the use of
tobacco products.
The amendments
were also designed
to define tax
inspection
measures and the
amount of fines for
tax violations in
more detail. The
2015-2017
Economic Reform
Programme (ERP)
includes measures
increasing excise
duties, and a tax
on games of
chance.
Montenegro
introduced tax
incentives to boost
certain sectors,
such as high-level
tourism and
construction,
including
exemptions from
tax and customs
duties for
construction works
on the Bar-Boljare
highway (also
foreseen in the
ERP). Measures
aimed only at
some businesses,
which are difficult
to administer and
could potentially
distort the market,
should be avoided.
adequately followed
up. Further progress
was made through
double taxation
agreements. The
agreement on the
country’s
participation in the
EU’s Fiscalis 2020
programme was
ratified.
double taxation and
prevention of tax
evasion were
concluded with
Iceland and the Swiss
Federation.
working well.
Nevertheless,
inconsistencies
between the customs
and excise code and
the criminal code
continue to hinder
the fight against
customs crime. The
informal economy
and smuggling across
the border/boundary
lines continue to
harm the economy.
Following an
agreement in the
Pristina-Belgrade
dialogue, two new
co-located crossing
points have been
agreed.
The tax
administration has
continued to improve
its human and
administrative
capacity. Progress
has been made in
introducing
electronic services
including online tax
returns, verification
and payment system
and business
registration centres
(one-stop shop).
There was no
progress in
modernising the
administration’s
internal IT platform
and its procedures.
On operational
capacity and
computerisation,
electronic services
to taxpayers were
further extended
On operational
capacity and
computerisation, a
comprehensive
analysis and
documentation of
Progress was made
on administrative
and operational
capacity. Revenue
collection increased.
The Public Revenue
As regards
operational capacity
and computerisation,
a new IT system was
deployed in the tax
administration as of
The customs service
has further improved
its legislative,
administrative and
organisational
capacity. The first
4. LAW. TAX. TRANSPARENCY
and revenue
increased. The use
of e-declarations
became
compulsory for a
large number of tax
declarations.
Efforts to combat
the grey economy
intensified, with
reinforced checks
on VAT
compliance. A new
programme for
2015-2020 to
transform the tax
administration was
adopted in June. As
a positive
development, it
includes quarterly
performance
indicators to assess
compliance with
objectives. While
public
communication has
improved, the tax
administration
should upgrade
taxpayer service
and simplify
administrative
procedures. Efforts
are needed to train
staff more
effectively. The
new wellequipped
data centre has
become fully
operational this
year; but
maintaining
staffing in the IT
division has
become a
challenge due to
wage competition
from the private
sector. The tax
administration has
intensified work on
IT interoperability
systems (automatic
exchange of
information among
revenue
administrations
and other
institutions) was
carried out, and
the testing phase
of the
interoperability
architecture has
started. The 2014-
2019 Business
Strategy for the tax
administration was
adopted in
November. The IT
Department of the
tax administration
introduced a new
tax accounting
subsystem,
designed to
eliminate
deficiencies of the
Tax
Administration's
information
system, in line with
audit
recommendations.
The agreement for
Montenegro to
participate in the
Fiscalis 2020
programme was
concluded
Office (PRO)
continued to
develop the
compliance risk
management
system and a
Council for
Compliance was
established. The
efficiency of the
internal audit and
control system
improved. The PRO
further improved
work processes
based on the ISO
9001/ 2008 quality
management
system. The tax
inspectorate’s
capacity was
strengthened by
new methods to
prevent tax evasion.
As of 2015 cash
registers are
compulsory and the
PRO now monitors
online cash turnover
in real-time. ‘E-tax’
services have been
further expanded.
The law on
prohibiting and
preventing
unregistered
activities aims to
reduce the informal
economy through
stronger control
mechanisms, such
as joint inspections
with other control
bodies, increased
information sharing
and controls.
Modernising the IT
system should be a
priority and part of
an overall
modernisation
strategy.
January. Personal
income tax
declarations must now
be made via electronic
means. Initial
technical problems
encountered by
taxpayers have been
resolved. Coordination
between the tax and
customs
administrations has
been strengthened by
ensuring their IT
systems are
interoperable.
Measures were taken
to fight fiscal evasion
in the fuel market. The
General Directorate of
Taxation strengthened
its cooperation with
the High Inspectorate
for Declaration and
Audit of Assets and
Prevention of Conflicts
of Interest. The
management and
revenue collection
capacities of the tax
administration need
to be enhanced to
ensure tax compliance
and prevent further
revenue slippages.
steps towards
merging the customs
and tax
administrations into a
single revenue
agency have been
taken. The merger of
41 investigation units
also brought positive
results. Kosovo
Customs operate
throughout Kosovo,
although to a limited
extent in the north.
The capacity to
enforce tax collection
in northern Kosovo
remains extremely
limited. The existing
backlog of complaints
against the customs
and tax
administrations was
finally dealt with and,
as a result, the
Independent Review
Board dealing with
such cases was
abolished in
December 2014.
5. LAW. TAX. TRANSPARENCY
improving
supervision by
training of tax
inspectors in
various fields, in
line with EU
methodology. The
discretionary
powers of
individual tax
inspectors should
be further reduced.
Some work was
also done to
improve
operational
activities to curb
the informal
economy, notably
against illegal trade
in fine-cut tobacco
and cigarettes and
in games of chance
and gambling
activities.
Serbia is
moderately
prepared in the
area of taxation.
Some progress was
made with the
adoption of the
2015-2020
programme to
transform the tax
administration.
This should
strengthen
strategic
management and
planning of
taxation. In the
coming year, Serbia
should in
particular: →
improve
operational
activities to curb
the informal
economy; →
further align
national rules on
Montenegro is
moderately
prepared in the
area of taxation.
Some progress was
made in this field.
In the coming year,
Montenegro
should in
particular: →
continue its efforts
on reinforcing its
administrative
capacity and, in
particular, the IT
support for the Tax
administration.
The country is
moderately
prepared in the area
of taxation. Some
progress was made.
The Law on Special
Zones for
Technological and
Industrial
Development is still
not compliant with
the EU Code of
Conduct for
Business Taxation.
In the coming year,
the country should
in particular: →
continue to fight tax
fraud, tax evasion
and the informal
economy; → further
develop the Public
Revenue Office’s
compliance risk
management
system and
strengthen its audit
Albania is moderately
prepared in the area
of taxation. Some
progress was made, in
particular as regards
legislative
approximation with
the acquis on value
added tax (VAT) and
excise. Revenue
performance in 2014
increased, as a result
of tax increases and
improvements in the
tax administration,
but did not increase as
budgeted in 2015. In
the coming year, the
country should in
particular: →
implement new VAT
legislation effectively,
which entails raising
awareness among
businesses and
training tax officials;
→ strictly implement
Kosovo is moderately
prepared in the area
of customs and at an
early stage in
taxation, with some
progress made in
both areas. It took
some initial steps
towards merging the
customs and tax
administrations and
upgrading internal
controls. Customs
legislation is largely
compliant with the
EU’s customs code. In
the coming year,
Kosovo should in
particular: →
implement customs
legislation in line with
EU practice; →
strengthen the
Kosovo tax
administration’s
internal IT platform,
its internal
6. LAW. TAX. TRANSPARENCY
excise goods,
including those on
imported spirits
and coffee, with
those of the acquis;
→ further simplify
and unify tax
procedures and
better train staff.
capacity and
function; → bring
fiscal provisions on
technological
development zones
into line with the EU
Code of Conduct for
Business Taxation.
measures to prevent
new VAT arrears and
address businesses’
complaints about VAT
refund delays; →
ensure the new IT
system is effective in
reducing arbitrary
practices, fraud and
corruption and
improving information
exchange.
performance controls
and the fight against
corruption; → step
up the fight against
the informal
economy and tax
evasion and prevent
any undue influence
on the work of their
institutions.