New Income Tax Law in Albania

Welcome to our Tax News series, dedicated to keeping you informed about the latest changes of Income Tax Law in Albania. In a world where tax regulations are in a constant state of change, staying well-informed is not just beneficial but essential.

In the course of the following weeks, we'll delve into particular topics of the new Albania's Income Tax Law which shall be effective from 1^st of January 2024. The new Law No. 29/2023 dated 30 March 2023 will replace the existing Law on Income Tax No. 8438 dated 28 December 1998 which has been applied for 25 years. The approval of the new Law on Income Tax has been marked as one of the most important changes of the existing tax legislation in the recent years and its impact in the business but also individuals tax compliance is considered of great relevance. We will be providing you with short guidelines on the novelties of the new law and highlighting the most important tax compliance matters, by aiming to provide insights for an easier navigation to the particulars of the new law. We invite you to join us on this informative journey as we unravel the complexities of the new rules on direct taxation of the income in Albania from a corporate and individual’s perspective.