Pr. law on fiscal amnesty: How will the declaration of wealth, tax value for individuals be made

The property that is allowed to be declared voluntarily, according to the provisions of this law, must not exceed the maximum value of 2,000,000 (2 million) euros.

For persons in the composition of the family certificate, the property that is allowed to be declared, according to the provision of point 1, is the totality of the voluntary declarations of the head of the family or any adult person, based on the data of the family certificate, according to the resulting composition documented up to date 1.1 .2022.

Special tax 7-10%

In cases of voluntary declaration of amounts in cash and their deposit in bank accounts, the bank or financial institution charges a special tax of:

a) 7 percent of the total amount declared, for declarations and payments made in the first 4 months from the entry into force of the law;

b) 10 percent of the total amount declared, for declarations and payments made after 4 months from the entry into force of the law.

If the subjects who have made the voluntary declaration of the sums in cash by depositing them in a bank account, decide to invest the declared sums in government bonds, treasury bonds or bonds of no less than 2 years, the Bank of Albania in the role of Fiscal Agent, holds a special tax of:

– 5 percent of the total amount for investments made in the first four months from the entry into force of the law;

- 7 percent of the total amount for investments made after four months from the entry into force of the law.

In cases of voluntary declaration of other movable or immovable assets voluntarily declared to the Unit, the special tax is paid, as follows:

- 7 percent of the declared value, for declarations and payments made in the first four months from the entry into force of the law;

– 10 percent of the declared value, for declarations and payments made after four months from the entry into force of the law.

- Second-level banks, or financial institutions, transfer the income from special tax payments under this law, to the special treasury account of the Ministry responsible for Finance.

- The tax obligations of the beneficiary entities, in relation to the value and type of property declared, are considered regularly paid and the competent tax authorities cannot request the payment of other additional obligations to those paid according to the provisions of this article./Panorama.al