Fiscalization > What are the expected results? >
There are several results or benefits expected as project outcome:
Taxes - Expected results are better collection of the taxes in Albania, key being VAT. Based on the similar increase in other countries, results on VAT collection can be up to 10-15% increase compared with collection of VAT before the project. Expected are also increase in other related tax categories (e.g. Income tax).
Lowering of the grey economy – by improving two key aspects – reporting of more cash based transactions and reducing number of fraudulent non-cash transactions with better control through Fiscalisation system, Project will reduce level of grey economy in Albania.
More efficient tax filing – with more information gathered from a taxpayer, GDT will be able to offer better service to taxpayer, like pre-population of the VAT forms with the already received data from taxpayer. This will speed up tax filing process and reduce errors in the process.
More efficient tax inspection – using system of fiscalisation it is possible to implement risk based tax inspection that will result in a less effort to identify tax evaders from a tax inspection perspective, but will also reduce likelihood of tax inspections at taxpayers that do not have irregularities.
Citizen engagement – with Invoice verification process citizens themselves can help government in identifying irregularities. We also plan to implement reward schemes to motivate citizens additionally to use this process.
Digitalisation of the economy – with more advanced, software based fiscalisation, opportunity exists for further digitalisation of the processes in point of sale area, especially in SME market in Albania. This will lead to more paperless economy and to more digital information exchange – between business and government but also between businesses itself.