Holiday season approaching, 4-5 star hotels are given the green light

Holiday season approaching, 4-5 star hotels are given the green light
Ahead of the start of the holiday season, the Albanian government has approved the conditions that need to be fulfilled by an investor to be able to build such accommodating outlets, on which a VAT of only 6% applies

 Luxury hotels in Albania are officially given the green light. These are 4-5 star hotels, the owners of which will only pay 6% of Value Added Tax (VAT) and will be excluded from the tax for infrastructure, tax on profit and property tax for a period of ten years. Now, the government has approved a list of criteria that need to be fulfilled by those who want to build these kinds of hotels. But, who is entitled to this special status? What kind of investor? Based on the government’s decision, the value of investment should be no less than 8 million euros for the construction of four star hotels and 15 million euros for five star hotels.

“Its turnover should have been at least 40% of the total value of investment in the past three financial years”, the government decision states about the financial side of things that the investor should fulfill. On the other hand, the investor needs to invest for the construction of these 4 or 5 star hotels in areas which have been declared as a priority for the development of tourism in Albania and not in suburban areas. “If the investor applies for the construction of a 4 star hotel, he should have had invested in the construction and/or manages at least 5 accommodating outlets in the domain of tourism, which have been given 4 and/or 5 stars by the authority in the respective country”, the government’s decision says. In this case, these accommodating outlets should be located in at least three EU member countries. If not, the applicant should have had invested in the construction and/or managing at least 8 accommodation outlets in the domain of tourism or 4 or 5 star hotels in international tourist destinations.

 

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