The Ministry of Finance and Economy has drafted the bill. “On the fiscal and penal amnesty for entities that voluntarily declare assets.” which will soon be submitted to Parliament for approval. This draft law has a one-year duration and provides for fiscal and penal amnesty for those who declare it voluntarily.
Beneficiaries of the amnesty will include all Albanian citizens, regardless of where they live, as well as natural and legal persons, resident taxpayers, and individuals who are tax residents of the Republic of Albania, regardless of their nationality.
Excluded from the amnesty are high-ranking state officials, from the president, prime minister, ministers, and deputies down to civil servants, prefects, directors, prosecutors, judges, or even police chiefs. Also excluded from the amnesty are those who have held high offices or positions, individuals with criminal records, or those accused of financing terrorism.
Voluntary declaration of assets will be carried out through a structure to be established within the General Directorate of Taxation, at second-tier banks including financial institutions, at the counter or online.
A key element of this amnesty is how it will be taxed: under the draft law, income or real estate tax will be applied in three brackets, ranging from 5 to 10 percent depending on the speed of voluntary disclosure. Thus, anyone who files the declaration and makes the payment within four months of the law's entry into force will pay 5 % on the amnestied assets, those who make the declaration in the second quarter will pay 7 %, while those who declare in the third quarter will pay 10% of the amnestied assets.
Source: publicconsultation.gov.al
Download P/Ligjin: RENJK_286_draft fiscal amnesty bill
Download the report: RENJK_286_30 06 2020 RELATION On fiscal and criminal amnesty for entities making a voluntary declaration of assets (1)