This law stipulates the implementation of Value Added Tax in the Republic of Albania.<\/p>\n
Value Added Tax (VAT) is a general tax on the consumption of goods and services, proportional to their price, which is charged at each stage of production and distribution to the price excluding tax.<\/p>\n
Value Added Tax applies to all supplies of goods and services, carried out in exchange for payment, within the territory of the Republic of Albania, by a taxable person acting as such, and to all imports of goods into the territory of the Republic of Albania.<\/p>\n
In its constituent parts, the key moments of VAT mechanism implementation are presented in detail.<\/p>\n
Thus, the law provides clear definitions regarding taxability, with the place of supply for both goods and services. A significant place is given to the detailed treatment of the internationalization of goods and services supplies, viewed from the perspective of the VAT operational scheme.<\/p>\n
Individuals required to register, to keep their records current, to declare and pay VAT, occupy a considerable space in the structure of this law.<\/p>\n
Despite the obligations, the law also clearly presents the right of every taxable person to benefit from VAT reimbursement.<\/p>\n
For the first time, the law also addresses specific VAT tax scheme arrangements applied in Albania.<\/p>\n
This tax has been implemented in the Republic of Albania since July 1996. The current law No. 92\/2014 dated 24.7.2014 \u201cOn Value Added Tax\u201d was drafted within the framework of the IPA 2007 Project \u201cSupport for the General Directorate of Taxes\u201d of Albania for the approximation of domestic legislation with the Acquis Communautaire.<\/p>\n