Small business and on profit taxes merged into one
Business, General News Thursday, September 14th, 2006Tirana, (AENews) Sep. 13 – Starting January 1, 2007 the small business local tax and the simplified profit tax will be merged into one. Moreover, the new tax will be administered by the local government, said yesterday Deputy Minister of Finance Florjon Mima.
According to amendments expected to be made to the law on local taxes system, the revenues obtained from taxes on the small business will not go to the state budget any more, but to that of communes and municipalities.
The merging of the two taxes aimed at facilitating administration of revenue by local government as part of decentralisation of powers efforts, Mima said.
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on Sep 14 2006. Filed under Business, General News.
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