Albania Parliament Considers Bill to Amend VAT Act

The Albanian Parliament (Kuvendi I Shqiperise) April 27 accepted for consideration a bill to amend the VAT Act. The bill includes measures to: 1) introduce an exception to the 20 percent standard VAT rate applied to all supplies of goods and services; 2) set a zero percent VAT rate for supplies of goods specified in the list of basic household consumption items, such as bread and cereal products, dairy products, eggs, fruits and vegetables, and meat products; 3) specify that a detailed list of zero-rated goods and the criteria for basic consumption items will be approved within three months from ...