Short answer
Business accounting in Albania is conducted in accordance with Law No. 25/2018 “On Accounting and Financial Statements,” and annual financial statements are filed with the QKB within seven months of the end of the year, that is, by July 31, pursuant to Article 22 of this law.
Verified on from Andi Haxhillari, Certified Accountant. Compared with Law No. 25/2018, Articles 5, 8, and 22.
Run your business with peace of mind. Simple solutions for your business's finance and accounting, in five tiers that start with legal security and extend to the value you build.
Who keeps the accounting, which category the business falls into, which standard applies, the statements and deadlines, document retention, and auditing.
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Read →Profit First, the break-even point, price and margin, collections, the one-page budget, liquidity, and the cash cycle.
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Read →Taxation and electronic invoicing in practice, as well as how the cloud and artificial intelligence help in accounting.
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Read →Profit is calculated on the period's revenues and expenses, even when the invoice hasn't been collected. Cash depends on actual collections and payments. You may have money tied up in unpaid customer receivables or in inventory in the warehouse. Profit vs. Cash →
This is the break-even point: monthly fixed costs divided by the gross margin. With 600,000 lek in fixed costs and a 40% margin, you need 1,500,000 lek in sales per month. Every lek above that is profit. Calculate the break-even point →
By July 31, within seven months of the end of the year, at the QKB and after approval by the assembly. A fine of 60,000 lek is provided for failure to deposit or for delay, pursuant to Law No. 9723/2007, as amended by Law No. 7/2022. Reflections and Deadline →
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