Business: Albania must be more competing with taxes

“In Macedonia they are more aggressive when appealing investors through low taxes and subventions. They have received an investment that was approved by one of the biggest companies in America, Leart, which will create 2000 jobs in Tetovo and hundreds in Gostivar, both Albanian-speaking areas. Why couldn’t they come here?”, declared the President of AmCham Albania, Marc Crowford.

According to him, most of the foreign investments in Albania are banks or natural assets, which means that our country is not competitive enough to attract foreign capital.

“If we see how many companies like Leart we have in Albania, which have gone there to produce car seat leather, we understand what level of competitiveness Albania has”, Crawford adds.

For this reason, the American Chamber of Commerce asked the government to reduce especially two taxes:

“We are discussing over VAT and Income Tax, the main taxes that need to be reduced”, Crawford declared.

He adds that tax reduction would not only bring investments, but also reduce informality in economy.

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