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Albania: New fiscalization tax reform requires e-invoicing in 2021

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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?

  • For cashless transactions between taxpayers and public bodies, this law becomes effective on January 1, 2021: Mandatory B2G e-invoicing
  • For cashless transactions between taxpayers, this law becomes effective on July 1, 2021: Mandatory B2B e-invoicing
  • For cash transactions by taxpayers, regardless of tax liability or annual turnover realized, this law becomes effective on September 1, 2021: Mandatory B2C invoice reporting

 

Source credit: Snitechnology.net

 

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