According to the Tirana Tax Directory, more than 1300 businesses were closed in June. This coincides with the new VAT scheme that includes small businesses as well, with an annual turnover above 2 million ALL.
Last year marked the lowest opening of new businesses in a decade. As this was not enough, a large number of businesses were closed.
The institution of statistics reported that the number of operating businesses increased with only 1.1%, or five times less than one year ago. Detailed data show that the slowdown is related to the closing of existing businesses.
Most of the businesses that are closing are small enterprises, which face financial difficulties, forcing them to get out of the market.
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