Tax amnesty, Albanians can declare up to €2 million euros of unjustified wealth

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All Albanian citizens and companies operating in the country will have the right to declare their wealth without having to justify how they were able to secure it.

The Ministry of Finance and the Economy is preparing a draft bill called ‘Tax Amnesty’ which will allow an individual and his family members to legalize their wealth of up to €2 million euros.

Individuals who profit from this ‘amnesty’ have to be of Albanian heritage and nationality, regardless of their country of residence and they can’t perform in high public functions.

Along with monetary sums, the legalization of private property, businesses, and valuable things like cars, artworks, and precious stones.

The amnesty period will last 9 months and those who declare within the first 4 months will be taxed 7% and anyone after that 10%.

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