When you are staring a business, you have to decide whether you want it to be a small local business or a big industry that will expand entire world. This all depends on your mission. And your mission will affect how you create your business plan.
And your business plan is the basis of how you will manage your company in the future. If you want to pay lower costs and fees for starting your business and aren’t really willing to pay enormous taxes, you might want to consider investing in a country that is in the phase of developing its industry and services. What these countries will do for encouraging domestic as well as foreign companies to invest can be very beneficial for you.
Some countries that are a little behind and are looking to grow rapidly are ready offer foreign investors a friendly environment with some financial relief. Especially if you are willing to provide new work places.
One of the countries that is trying to enforce quick progress is Albania. The new decision made by the Albanian government brings a huge relief to small businesses. The decision was announced in a press conference by country’s Prime Minister Edi Rama. They have decided to promote and help small businesses by cutting taxes for businesses that have a turnover lower than ALL 5.000.000. This measure will enter in force when the new fiscal package enters in force, and that will occur on January 1st of 2016.
This measure was brought because small businesses comprise approximately 85% of businesses in Albania and they have been having a hard time since the Albanian government had started a reform against informality this September. The representatives of small businesses have reported that the taxes are causing them to bankrupt. The move that should prevent this from destroying the majority of businesses in Albania is a decision to collect no taxes from businesses that have a turnover under ALL 5.000.000, while the corporate tax for medium businesses with ALL 5.000.000- ALL 8.000.000 is reduced by 2,5% and it will be only 5%.
Also, tax inspections are canceled for the firstsemiannual of the next year because control will be conducted through the electronic system linked to fiscal cases.
This means Albania is on the right path by supporting small and medium businesses, and this is the move to ensure progress and increased incomes and the quality of life.