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6 hours agoMinistry of Finance Has Good News for Local Producers
Periskopi(8 years ago)
(8 years ago)The Ministry of Finance reports all local producers that all legal procedures have been finalised for the start of implementing decisions on release from customs and excise taxes for all registered subjects as producers near the Kosovo Tax Administration. So starting on January 1, 2018, all producers who [...]
Hence, beginning on January 1, 2018, all producers who import themselves or through contractors will be released from customs tax, for raw materials, half products, production lines, information technology equipment, and then will be released from excise Taxation to all products that participate as aids in the production process.
We also announce production businesses that these are only the first measures for these three months of the government's mandate, respectively.
Finance Minister Bedri Hamza has been declared many times publicly that privacy is private sector development and that this sector will be the bearer of economic development, where through increased economic development and fighting informality we will have equal treatment for all businesses. The measures undertaken will affect the realisation of budget revenues, as envisioned in the 2018 budget.
Also, the Finance Ministry announces the opinion that there will be no new taxes, there will be no increase in existing taxes, but the MF will continue with new fiscal and facilitating measures for business at the beginning of the new 2018 year, where changes and completions of tax legislation such as the Law for Tax Procedure and Administration, the Law on Tax Taxation, the Law on VAT-, the Law in the Applied Persons, including the Customs and Act of Acts. In simplifying the procedures to issue documentation, there will be time reductions and bureaucratic procedures of VAT return, postponing VAT in raw materials with the purchase being produced in Kosovo, simplified and joint audits ATK customs, eliminating physical contact of tax inspectors, and developing the TI system for communication of A. KK and Customs with taxpayers. There will be many other changes in order for our producers to be competitors both inside and abroad.
The Finance Ministry also announces that no changes will take place without the consent of the Business Community, which is a partner in decision-making together with the Ministry of Finance.
