The American Chamber of Commerce in Albania said the country’s government should develop an emergency plan in support of the business community to prevent a deep economic crisis from the spread of novel coronavirus disease in the country. Many businesses are beginning to feel the economic strain of the containment measures imposed by the government of Albania to minimize the spread of the disease, the AmCham said in a press release on Tuesday. “Government policies should be tailored to match the extraordinary time we are living in,” the AmCham added. According to AmCham, the government should draft a plan to postpone the timelines required for financial reporting, the filing and payment of the value added tax, and the annual notification of controlled transactions.
The plan of measures should also include the elimination of all fiscal obligations for at least three months and for businesses in the tourism sector for six months as well as the creation of an emergency fund that will allow quick access to capital by way of grants or long-term loans to help businesses cope with the negative effects of this period, the AmCham noted.