Entrepreneurs > Acting as a Business >
Every taxpayer, who conducts a business that, during the fiscal year, generates a turnover of less than or equal to 8.000.000 (eight million) ALL, is liable to simplified income tax payment for the small businesses.
The total of incomes generated by the small businesses implies every kind of income produced during the taxable period and includes, not only but also:
Taxable income or taxable profit is obtained from the difference between:
For taxpayers subject to the simple income tax for small businesses, with a turnover from 5 (five) to 8 (eight) million ALL, the tax rate on taxable profit shall be of 5%.
For taxpayers with a turnover from 0 (zero) to 5 (five) million ALL, the simple income tax per year is 0 (zero).
The keeping of documentation
They are obliged for every sale made to:
They are obliged that for every purchase to justify:
The taxpayers are obliged to keep:
For taxpayers subject to the simplified tax on profit for small businesses that are registered with VAT, the book of sales and the book of purchases held for the purpose of VAT, shall serve as such for the effects of the simplified tax on profit for the small business
The down payment of tax
The installments of the down payment of the simplified tax on profit, for the following year, for the taxpayer with an annual turnover from 5 (five) to 8(eight) million ALL, are calculated based on the data provided in the tax declaration of the previous year.
For taxpayers that are registered for the first time during the year, the simplified income tax is calculated on the basis of turnover and taxable profit, provided by the taxpayer, for the period from the date of registration until the end of the first calendar year.
Form and content of the annual tax declaration are determined by the Guidance of the Minister of Finance.
During the current taxable period, the taxpayer pays, at the second level banks and the Albanian Post, in the account of the tax administration, every year, on the terms:
With the payment and receiving of the bank confirmation of the payment, the taxpayer shall go to the regional offices for the service of taxpayers and, upon submission of the bank’s receipt, is provided with "the Tax stamp" for the installment, which is placed on top of the certificate of registration (NUIS/NIPT).
Attention ! In case the business activity is opened, closed or suspended during the fiscal year, the simplified income tax for the small business, is proportional to the time of the activity and is calculated on the basis of the self-declaration of the taxpayer.