Personal Taxes

Extension interval for submitting annual personal revenue assertion – taxes

Albania:

Extension period for filing the annual personal income statement

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By normative law, the Council of Ministers of the Republic of Albania approved the decision to extend the deadline for submitting the annual income statement by two months in order to settle the tax liability (if the annual statement shows a tax liability). on the same day.

According to this decision, the deadline for filing the annual financial statements for 2020 is June 30, 2021, while the original deadline was April 30, 2021.

In the addendum to the “Income Tax” Act, the waiver of fines was also decided on in cases where the submitted declaration is inaccurate or incorrect and contains incorrect information, provided that the correct declaration is submitted within the deadline of June 30, 2021.

The submission of this declaration is compulsory for all residents who are employed in two or more companies at the same time, as well as all residents if they have a gross annual income from all sources (inside and outside the Republic of Albania), totaling over 2,000,000 (two million) ALL.

Non-residents are required to file the annual profit and loss account with the tax authorities only if they are employed in more than one company in the Republic of Albania or if they have a gross annual income with source in the Republic of Albania equal to the total amount over 2,000. 000 (two million) ALL.

The content of this article is intended to provide general guidance on the subject. A professional should be obtained about your particular circumstances.

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