{"id":18338,"date":"2023-11-27T09:08:44","date_gmt":"2023-11-27T09:08:44","guid":{"rendered":"https:\/\/alprofitconsult.al\/?p=18338"},"modified":"2023-11-27T09:14:27","modified_gmt":"2023-11-27T09:14:27","slug":"corporate-income-tax-general-provisions-for-determining-profit-part-one-legal-changes-after-january-2024","status":"publish","type":"post","link":"https:\/\/alprofitconsult.al\/en\/tatimi-mbi-te-ardhurat-e-korporates-dispozita-te-pergjithshme-mbi-percaktimin-e-fitimit-pjesa-e-pare-ndryshimet-ligjore-pas-janar-2024\/","title":{"rendered":"Corporate Income Tax: General Provisions on Determining Profit: Part One (Legal Changes after January 2024)"},"content":{"rendered":"

Taxable income<\/strong><\/h2>\n\n\n\n

Taxable income includes any income realized by a person, subject to this chapter, during the tax year, less deductible expenses.<\/p>\n\n\n\n

Taxable income and deductible expenses are determined based on financial statements, which are prepared in accordance with the applicable legislation for accounting and financial statements, with the provisions of this law<\/a>, as well as with the subordinate acts implementing it.<\/p><\/blockquote>\n\n\n\n

Market principle<\/strong><\/h2>\n\n\n\n

Transactions between related parties must comply with the arm's length principle. The taxable profits of a person who participates in one or more controlled transactions are considered to comply with the arm's length principle if the conditions of these transactions are not different from the conditions that would have been applied between independent parties in comparable transactions, carried out in comparable circumstances.<\/p>\n\n\n\n

Under the direction of the minister responsible for finance, the rules and procedures for the implementation of this article are approved.<\/p>\n\n\n\n

Long-term contracts<\/strong><\/h2>\n\n\n\n

A long-term contract is a contract that meets the following conditions:<\/p>\n\n\n\n