The government law that obliges all people who profit more than 2
million ALL annually to declare their incomes is going really slow. Only
1200 individuals have withdrawn the form and only 240 of them have
handed it over.
The 2 million ALL limit doesn’t include only the incomes from payments, but also revenues from small businesses, leased properties, copyrights, profits from a dividend, etc.
If this category of citizens fails to declare the income, they will face severe fines.
But how is the form filled and who profits?
Since this is the first time that the government obliges individuals to declare their annual incomes, many of the citizens might be unclear about how to do it. The standard form can be found on the Ministry of Finances official web page or it can be withdrawn physically at the tax offices. http://www.minfin.gov.al/
The form also has the declarations of expenses that are considered deductible, for which the citizens must have preserved their bills.
The deductible expenses are recognized only for the citizens who have less than 1.5 million ALL of annual income. The third subpart of the form makes the difference of the total incomes and deductible expenses for giving the total amount of taxable income, while lower it declares the tax that has been paid during the year for each item.
For whoever has more than 2 million ALL of annual incomes, September 30th is the last deadline.
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