The Albanian Ministry of Finance Nov. 1 presented the 2024 draft budget to Parliament. The draft includes measures to: 1) index pensions; 2) progressively increase the minimum level of the carbon tax on coal, beginning with 0.5 Albanian leks (US$0.01)/kilogram in the first year, to move towards the EU’s standard related to imports to EU countries; 3) exempt VAT on imports of cattle, bees, and insects used in organic farming, and not introduce VAT in the financial services, health, or education sectors; 4) establish rules for exchanging information with tax authorities from parents of multinational groups with branches or subsidiaries ...
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