The new fiscal package has a law amend which imposes a tax on profits that foreign companies realize by selling concessions of Albanian companies.
The decision comes after several big sales made the government lose millions in uncollected taxes.
In 2016, the Oil Concession in Patos Marinza was sold for 575 million USD by Bankers Petroleum to the Chinese company, Geo Jade.
On the same year, the German group “Hotchief” sold their shares of the Rinas airport for 90 million ALL, to another Chinese company, part of the “China Everbright” group.
The Albanian law forces every company to pay 15% of taxes for the sale. But in both of the above-mentioned cases, the government didn’t take a dime. The reason was that the companies were registered offshore and the sale was also made abroad. Almost every big concession in Albania is owned by offshore companies, registered in fiscal paradises.
The law amends is going to force companies to pay 15% of their sale transaction, regardless of where it may take place.
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