Albania Cabinet Approves Draft Bill on Tax Measures in Science-Technology Parks

The Albanian Council of Ministers June 9 approved a draft bill on tax measures in science-technology parks. The tax measures provided in the draft bill include: 1) a 15-year consecutive profit tax-free period for income generated from park activities; 2) a 10-year tax-free period for salaries of research and development staff, as well as the developer’s entire staff; 3) a VAT exemption for goods, equipment, and services used in the park; 4) an exemption from infrastructure impact taxes; 5) a 10-year exemption from the real estate tax for construction projects carried out in the parks; and 6) a conditional partial ...