Albanian Parliament Approves Capital Gains Tax and Corporate Income Tax Amendments and Incentives for Agritourism

The Albanian parliament has announced the approval on 9 July 2018 of amendments to the Income Tax Act and the VAT Act, which include:

• Setting a 15% tax rate on capital gains realized on the transfer of immovable property, including buildings, land, and agricultural land, with a provision that the transfer of land with a construction site on the basis of an exchange contract is not considered a taxable event;
• Increasing the turnover threshold for the small business tax rate (5%) from ALL 8 m…