The General Directorate of Taxes brings to the attention of taxpayers the legal procedure for submitting the profit tax payment declaration and financial statements for the 2019 fiscal year, in accordance with Law No. 8438, dated December 28, 1998 “On Income Tax,” as amended; the Minister of Finance's Instruction No. 5, dated January 30, 2006, “On Income Tax,” as amended; and Council of Ministers“ Decision No. 922, dated December 29, 2014 ”On the mandatory filing of tax returns and other tax documents exclusively in electronic form,“ as well as the requirements of Law No. 25/2018 ”On Accounting and Financial Statements.".
The taxpayer must submit the Income Tax Return form in the model approved by the Directive. This form is completed in accordance with the explanatory notes.
Likewise, he submits the accounting balance sheet, together with the financial statements and their annexes, exclusively electronically to the tax administration.
To make things easier for taxpayers, the format will be the same as that submitted to the National Registration Center (QKB), specifically:
- The balance sheet (assets, liabilities, and equity);
- Statement of income and expenses;
- Statement of changes in equity, statement of cash flow, or statement of cash movements (cash flow);
- Annex for explanatory explanations.
Additional documentation required under Law No. 9920 of May 19, 2008 “On Tax Procedures in the Republic of Albania,” Article 60, and Law No. 8438 of December 28, 1998 “For the income tax,” as amended, the Minister of Finance's Instruction No. 5, dated January 30, 2006, “On income tax,” as amended, which shall be submitted electronically together with the financial statements, is:
- The lease agreement for the rented premises or the proof of ownership for the property;
- Inventory status of goods for sale as of December 31, 2019 (analytical);
- Inventory of owned transportation equipment;
- Schedule of material long-term assets (Building).
Financial statements (statements of assets, liabilities, and equity), income and expense statement, statement of changes in equity, statement of cash flows, the statement of tangible long-term assets, will be submitted electronically in PDF (scanned) and Excel formats.
Financial statements submitted in PDF (scanned) format must be signed and stamped by the company's administrator.
They will be submitted electronically only in PDF format (scanned): the annex for clarifying explanations, the report of the company's authorized expert, the lease agreements for the leased premises, and the proof of ownership for the company-owned facilities.
The inventory of goods for sale as of December 31, 2019 (analytical), the inventory of owned transport equipment, and the statement of tangible long-term assets (Buildings) shall be submitted in Excel format, provided that the submitted version remains unchanged.
During the submission of the 2019 financial statements, based on Law No. 25/2018 of May 10, 2018 “For Accounting and Financial Statements”In Article 3(18), taxpayers must declare, before submitting their financial statements, the following information in their system account:
- The preparer of financial statements (balance sheet), the employed economist, the licensed certified accountant, or the accounting firm providing accounting services.In the Annual Balance Sheet submission format under the Accounting menu, the taxpayer's e-Filing account has been updated with the three fields as described above.
- The company administrator and his contact number;
- The income statement section to be completed when submitting the financial statements.
The formats of the financial statements and additional documents are as follows:
to the right Statement of Financial Position
to the right Performance statement and income and expenditure statement by nature
to the right Performance overview – income and expenditure statement by function
to the right Overview of Indirect Monetary Instrument Flows
to the right Direct Monetary Instrument Flows Dashboard
to the right Real Estate Buildings
to the right Mobile Home Formatting
Source: General Directorate of Taxes.