Application of the new property taxed postponed to 1st January 2019

Application of the new property taxed postponed to 1st January 2019
Don’t worry about an extra tax which you were expecting to see in this month’s electricity bill. It will not be included. This was declared yesterday by the minister of Economy and Finance, Arben Ahmetaj. The tax in question is property tax, which was going to be billed to the Albanian population starting from the month of April this year. But, the lack of a fiscal cadastre for real estate and the fact that local government authorities do not yet know how to calculate this tax, have forced the government to withdraw from this tax.

Thus, the government has offered them more time, introducing a new date when the billing of the population will start, namely 1st January 2019. “2018 is a transitory period, which allows local government authorities to better prepare and to be ready to apply the property tax based on the real market value starting from 1 January 2019”, declared minister Ahmetaj about this. Meanwhile, the minister also explained that 1 January 2019 will be the last deadline for the calculation of this tax and that local authorities were the ones to demand this transitory period of 6-9 months, in order to make the necessary preparations for the application of this tax. Let us recall that tax for residential properties will amount to 0.05% of the value, 0.2% for business premises and 30% of the respective tax for the entire construction area, for which the developer has been issued with a construction permit, but has not yet managed to complete the construction within to the deadline.

 

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