Slowdown in tax collections, reforms fail

Official records show that tax collections have increased only by 3.8 percent compared to last year.  Tax collections have hit a rock bottom since 2013, Standard reports. According to the daily the performance of tax collections in 2018 will also be hindered by accumulated outstanding liabilities, especially VAT tax. Authorities must pay over 100 million euros of VAT tax to companies such as Devoll Hydropower, Bankers Petroleum and TAP. Meanwhile in 2017,l Albania’s public debt reached to 71.8 percent of the GDP in 2017, according to IMF estimates. The government will be unable to meet the objective of lowering its debt to 60 percent of GDP, based on agreements with World Bank, IMF and European Commission.

Source: Standard