Albania aims to conclude agreements to avoid double taxation with all 27 European Union member states as it aligns its tax legislation and practices with European standards.
Deputy Finance Minister Andi Memeti outlined the objective during a parliamentary committee discussion on ratifying an agreement with Lithuania. He said these agreements strengthen economic cooperation, provide greater certainty for investors and help combat tax evasion.
Albania currently has 46 agreements to avoid double taxation in force, including 23 with EU member states. The agreement with Lithuania would become the 24th with an EU member, bringing the country closer to its target.
Meanwhile, Memeti stressed that fiscal policy plays an important role in attracting investment and advancing European integration. He also said the agreements establish clearer rules for taxing business income, dividends, interest, capital gains, employment income and pensions.
These provisions aim to prevent businesses and individuals from paying tax twice on income earned in both countries. They also seek to facilitate cross-border investment and provide greater certainty for businesses.
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