Hotel construction permits increased 5-fold
05/03/2018 15:38
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The easier fiscal measures were undertaken by the government for allowing the construction of new hotels, and the increasing number of tourists has increased the number of hotel construction permits in 2017.
53 permits were given throughout the country in 2017, five times more than in 2016 and the years before that.
In total, the surface that will be used for hotels reaches 89,000 square meters, with invested money reaching 3 billion ALL more than the money invested for aqueducts and the electricity network.
The government decided that new 4-star and 5-star hotels will not pay income tax for 10 years if they benefit the special status that is granted by the government.
Besides being excluded from the income tax for 10 years, VAT will be reduced by 6% for all services from 5-star hotels. For 4-star hotels, it will include only accommodation.
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