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Arms production in Albania / Ease for companies that invest over 25 million euros

2024-06-08 21:21:00, Aktualitet CNA
Arms production in Albania / Ease for companies that invest over 25 million
Illustrative photo

Albania is preparing to develop the arms production industry, defining the rules for the companies.  

The government envisages easing the tax burden with mostly 10 years without paying taxes, in order to encourage companies to compete.

"These facilities include accelerated procedures for licensing and registration of activity, according to the legislation in force. The rate of taxation is 0 for the first 10 years of activity, reduction of value added tax at the rate of 10%, for supplies and services necessary for the production of military armament, as well as any other applicable tax exemption, based on the legislation in power for value added tax, exemption from infrastructure impact tax, exemption from local and central tax for a period of 10 years, exemption from all customs taxes for goods, which directly serve the production of military armament".

Private companies will have support in utility bills, such as energy, gas or water and will have access to support funds for research and development in the field of defense technologies.

But in order to benefit from these facilities, each subject must invest a minimum of 25 million euros.

"Subjects who wish to invest in the military armaments production industry in the Republic of Albania and who plan an initial investment of at least 25 million Euros, qualify to benefit from facilities and incentives."/ CNA

 





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