Taxes, ready the asset register for the 13 thousand richest individuals in 2026

2024-09-24 07:50:14, Aktualitet CNA

During the next year, data will be compiled with the wealth and assets of the country's 12,800 richest individuals for tax purposes.

The Ministry of Finance in the mid-term fiscal policy document announced that it will establish and activate within 2026 the data on the country's richest individuals, which will also aim to investigate unjustified assets as well as conduct investigations of taxpayers and individuals based on asset data.

In addition to the fiscalization project, the 2020 law created the Central Register of Bank Accounts, which is a state database.

Finance claims that the purpose of creating this register is to create conditions for preventing the use of the financial system in the Republic of Albania, for the laundering of money and products originating from criminal offenses. In 2022 Albania shared its information with more than 77 jurisdictions (including 24 EU Member States) in 2022.

In May 2023, the Information Directorate - Communication Sector was created. Priority is the creation of two important systems, for Taxation with the necessary data on the total assets of individuals, from third parties, to make the relevant investigations for tax compliance.

Within the year 2026, it is intended to set up the Register of Taxpayers' Assets with the aim of a real assessment of the taxpayer's assets, and to complete the register of taxpayers' assets for 10% of taxpayers within the year 2026 (12,800 people).

To create the register, data from third parties will be used, such as from the register of public services (electricity, water, vehicle register, municipalities) to enable the Tax Administration to investigate unjustified assets of taxpayers until December 2026.

The construction of the Register of Assets of Taxpayers aims at the real assessment of the assets of taxpayers, the construction of a system of verification and tracking of taxpayers' income, the complete control of payments made for property tax. Some of the problems identified for the creation of the Register of Taxpayers' Assets are the lack of digital registers from third parties (Cadastre, DPSHTRR, Civil Aviation, Maritime Authority, etc.) and the information that is obtained manually is unstructured.

The creation of the Register is expected to take place within the year 2026. This process will go through 2 phases: the first is the creation of an Asset Register with the relevant attributes, for 10% of taxpayers within the year 2026, and the second is the analysis of the data./ Monitor .co.uk