Albania introduced a new regulation which is called fiscalization in 2020. It includes online reporting of all issued invoices and receipts. and it becomes mandatory in 2021. This means that all issued cash and non-cash invoices and accompanying invoices shall be recorded in the Tax Administration database and its purpose is to modernize current VAT reporting but also to provide transparency in transactions in order to reduce fraud and tax evasion. This is also a necessary step in order for Albania to become a member of the EU.
This will provide better control and tax-audit opportunities for the authorities in order to detect the non-payers.
When is e-invoicing becoming effective?
Source credit: Snitechnology.net