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Freelance professionals, letter to the Central Bank: Businesses risk fines, clarify financial statements

Politiko 2026-07-06 13:59:46

Freelance professionals, letter to the Central Bank: Businesses risk fines,

The Alliance of Free Professionals (APL) has today sent a letter to the National Business Center (NBC), requesting an official position on the information being provided to businesses organized as legal entities, regarding the obligation to file and publish financial statements with the NBC regardless of their annual turnover.

Currently, according to the legislation in force on accounting and "On Income Tax", regardless of the way businesses are organized, whether legal entities or LLCs, the obligation to file financial statements with the Central Bank is only for businesses with an annual turnover of over 5 million lek.

According to the APL, different interpretations of the legislation have created uncertainty among professionals and businesses, increasing the risk of penalties for failure to submit financial statements.

According to APL members, in the event of filing financial statements, businesses are fined 60 thousand lek.

Consequently, APL considers it necessary to have an official position from the Central Bank on this issue, so that professionals and entities have legal certainty and avoid different interpretations in the implementation of the legislation in order to avoid penalties for failure to submit financial statements.

Letter from the Alliance of Freelance Professionals submitted to the National Business Center

“The Alliance of Free Professionals (APL), composed of many professionals, including certified accountants, chief financial officers who prepare financial statements, and statutory auditors, has received numerous concerns from its members during this period regarding the obligation to file and publish financial statements by micro-entities with income below 5 million lekë. Informal communications have created the impression that all legal entities are obliged to file financial statements, regardless of their income level. However, this interpretation does not seem to be in line with the legal framework in force.

Specifically, the amendments to SKK 15 adopted in 2022, which expand the scope of application to all economic micro-entities, have been postponed by Order No. 291, dated 30.12.2022, and enter into force only for accounting periods starting from 1 January 2028. Consequently, until the entry into force of these amendments, it results that the obligation to prepare, file and publish financial statements under SKK 15 continues to apply only to micro-entities that generate over 5 million lek annual income from economic activity. In accordance with UMF No. 26, dated 8.9.2023, as amended, article 61, point 6.

Also, the form of organization of the entity (legal entity or natural person) or the income tax regime do not constitute legal criteria for determining this obligation, as the classification as a micro-unit is regulated by accounting legislation and is based on the criteria set out in Law No. 25/2018 or Law 29/2023 together with the sub-legal acts.

Regarding the above, we would appreciate an official position from the Central Bank on this issue, so that professionals and entities have legal certainty and avoid different interpretations in the implementation of the legislation to avoid penalties for failure to submit financial statements.

We thank you in advance for your attention and await your response."/ Monitor

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