The General Directorate of Taxes brings to the attention of taxpayers, in compliance with the law. No. 8438, dated December 28, 1998, “On Income Tax”, as amended, the Minister of Finance's Directive No. 5, dated January 30, 2006, “On Income Tax”, as amended, of the Government Decree No. 922, dated December 29, 2014 “For the mandatory filing of tax returns and other tax documents exclusively in electronic form, as well as for the requirements of the law.” No. 25/2018 “On Accounting and Financial Statements”, by March 31, 2021, must submit the profit tax payment declaration and financial statements for the year 2020.
The Profit Tax Return Form, completed in accordance with the explanatory notes to the financial statements, is submitted via e-filing to each taxpayer's electronic filing account. Also, in e-filing, under the Accounting – Annual Balance sheet menu, the financial statements and their respective annexes are also submitted.
The format of the financial statements and accompanying explanatory notes 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 by law. No. 9920, dated May 19, 2008 “On Tax Procedures in the Republic of Albania,” Article 60, and of Law No. 8438, dated December 28, 1998 “For the income tax,” as amended, the Minister of Finance's Directive No. 5, dated January 30, 2006, “For the income tax,” as amended, which will be filed electronically together with the financial statements, is:
- The lease agreement for the leased premises or the proof of ownership for the property;
- Inventory of goods for sale as of December 31, 2020 (analytical);
- Inventory of owned transportation equipment;
- Schedule of material long-term assets (Building).
Required electronic format:
- Financial statements (statement of assets, liabilities, and equity), income and expense statement, statement of changes in equity, statement of cash flows, statement of fixed tangible assets, in PDF format (scanned) and in Excel format.
- Financial statements submitted in PDF (scanned) format must be signed and stamped by the company's administrator.
- The annex with clarifying explanations, the report of the company's authorized expert, the lease agreements for the leased premises, and the proof of ownership for the owned properties, only in PDF format (scanned).
- The inventory status of goods for sale as of December 31, 2020 (analytical), the inventory of owned transportation assets, and the statement of tangible long-term assets (Buildings), in Excel format, provided that the declared version remains unchanged.
During the submission of the 2020 financial statements, based on Law No. 25/2018 of May 10, 2018 “For Accounting and Financial Statements”Article 3, point 18, in the Accounting – Annual Balance sheet menu, you must also declare the required information regarding:
- The preparer of financial statements (balance sheet), the employed economist, the licensed certified accountant, or the accounting firm providing accounting services.
- The company administrator and his contact number;
- The income section.
The formats of the financial statements and additional documents are as follows:
- Overview of Flows of Direct Monetary Instruments.xlsx
- Overview of Indirect Monetary Instrument Flows.xlsx
- Statement of Changes in Equity.xlsx
- Performance statement (income and expense statement) by function.xlsx
- Performance Statement (Income and Expenditure Statement) by Nature.xlsx
- Financial Position Statement.xlsx
- Format for movable property (vehicle).xlsx
- Property (Building) Form.xlsx
Download the documents:
IFRS_Business with Public Interest Reporting Formatting SKK2_I Report Format Mid and Large Assets for Movable Property (Cars) Real Estate Forms (Buildings) SKK15_Micro and Small Enterprise Reporting Formats
For any questions, clarifications, or information, you can contact the Taxpayers' Service at any Regional Directorate, as well as the Call Center at the toll-free number 0800 0002.
Source: General Directorate of Taxes.
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