Albania Gazettes General Instruction Explaining Amendments to Income Tax Law

The Albanian Official Gazette Sept. 20 published General Instruction No. 26/2023, explaining the implementation procedures for amendments to the income tax law introduced by Law No. 29/2023, effective Jan. 1, 2024. The amendments include measures: 1) setting standard annual depreciation rates and introducing provisions for the extension of losses, business reorganizations, transfers of business assets, bad debts, amortization, and the simplified declaration regime; 2) revising residence and permanent establishment rules for taxation purposes and introducing the special regime for commercial and self-employed individuals; 3) taxing dividends at 8 percent and interest and royalties at 15 percent; 4) taxing individual employment ...