Taxpayers registered with the National Business Center/Tax Administration are required to open their business's bank account no later than ninety days from the effective date of this law (July 26, 2019) and declare it to the tax administration.
While newly registered taxpayers are required to open the business/organization's bank account no later than twenty calendar days from the day after registration with the National Business Center/Tax Administration and to declare it to the Tax Administration.
By Law No. 31/2019 “On Certain Amendments to Law No. 9920, dated 05/19/2008 “On Tax Procedures in the Republic of Albania”, as amended," it has been provided that taxpayers who are natural persons engaged in trade, registered for value-added tax, legal entities, regardless of the turnover they generate, as well as nonprofit organizations registered with the tax authority, are required to have a business/organization bank account and to declare it to the tax administration.
In the event of non-compliance with the aforementioned tax obligation, the law provides for penalties for taxpayers. The Tax Administration urges taxpayers subject to these legal provisions to voluntarily fulfill this legal obligation within the prescribed deadlines.
Full Notification on the Official Website of the General Directorate of Taxes.
