Albania’s State-Funded Tourism Investment: A 100% Financing Initiative

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Albania’s State-Funded Tourism Investment: A 100% Financing Initiative \     Following a remarkable revenue influx of 4.1 billion euros from tourism in 2023, the government of Albania is poised to further bolster this sector by financing key strategic projects. In a directive issued by the Ministry of Tourism and Environment, published in the Official Gazette, it has been stipulated … Read More

Tirana: The Ultimate Destination for Italians

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Tirana: The Ultimate Destination for Italians       This summer, Italians traveling abroad are most frequently heading to the Albanian capital, Tirana, followed by the Greek island of Corfu and Paris. Remarkably, Japan is the only intercontinental destination to make it into the top ten. This insight comes from Travel Trends, as reported by the Mastercard Economic Institute in … Read More

Rising Prices Drive Surge in Albanian Business Deposits

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Rising Prices Drive Surge in Albanian Business Deposits       In 2023, business bank deposits in Albania experienced significant growth. Data from the Bank of Albania reveals that by the end of the year, business deposits in banks had reached a record 360 billion ALL, marking a 15.5% increase compared to the previous year. This surge in business deposits … Read More

Notice Regarding the Option for Tax Bracket Review by the General Directorate of Taxes

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Notice Regarding the Option for Tax Bracket Review by the General Directorate of Taxes       The GDT emphasizes that the calculation of preliminary tax installments for the year 2024, particularly for professional services, is based on a percentage of the self-declared profits for the year 2023. As 2024 marks the initial implementation year of the new tax law, … Read More

Anticipated Access to SEPA Set to Lower International Transfer Costs in Albania

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Anticipated Access to SEPA Set to Lower International Transfer Costs in Albania       Entering the Single Euro Payments Area (SEPA) is anticipated to lead to a notable reduction in the costs associated with international transfers. This move holds considerable promise for streamlining financial transactions across borders, offering lower expenses and faster processing times. Albania’s forthcoming membership in SEPA … Read More

The Impact of High Taxes on Free Professions and the Role of Financial Consultation

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The Impact of High Taxes on Free Professions and the Role of Financial Consultation       The recent implementation of income tax laws for self-employed professionals in Albania has sparked concerns and raised significant challenges, particularly for liberal professions such as psychologists and lawyers. The tax burden imposed by these laws has been described as excessively high, with professionals … Read More

What you need to know about Albania: Investing in the country according to Total Impact

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What you need to know about Albania: Investing in the country according to Total Impact       2023 marked a significant milestone for Albania, solidifying its position among Europe’s top destinations. Visitors who previously overlooked the country in their Balkan travels have now discovered its allure, from stunning beaches and majestic Alps to affordable prices and delicious cuisine. Media … Read More

Tender published for Italian migrant centres in Albania

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Tender published for Italian migrant centres in Albania       In a recent development, the Rome prefect’s department has announced tenders for the establishment of three Italian migrant centers in Albania, as part of an agreement between Rome and Tirana forged last year. The notification outlines the allocation of funds, with an annual budget of nearly 34 million euros … Read More

UN Tourism Barometer/ Albania Best Destination in Europe 2023

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UN Tourism Barometer/ Albania Best Destination in Europe 2023       The UN Tourism Barometer, known for its regular monitoring of short-term tourism trends and providing timely analysis to global tourism stakeholders, has named Albania as the leading destination in Europe for 2023. Published quarterly, the Barometer offers insights into inbound tourism to destinations and outbound tourism from source … Read More

Economic Renaissance: A New Chapter in Albania

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Economic Renaissance: A New Chapter in Albania       In recent years, Albania, a country once shrouded in mystery and isolation, has embarked on a transformative journey, capturing the attention of the global community. With its stunning Adriatic coastline, rich historical tapestry, and vibrant culture, Albania is rapidly emerging as a beacon of progress and innovation in the Balkans. … Read More