A proposal for a luxury tax to be placed on coastal properties has been introduced.

In addition to other tax reduction requirements, the head of the Chamber of Commerce has stated that there should be a luxury tax for all residences over 200 square meters and worth over 300,000 euro along the Albanian coast.

This proposed fee is 500 lekë per square meter per year.

Meanwhile it was also proposed to raise the VAT threshold up to 10 million lekë.

Business once again objected to the imposition of a 3% builders tax, the profit of which would be used for social housing.

Instead they have suggested all enterprises pay 1% of profits.

The Tirana Chamber of Commerce and Industry has also demanded that income tax rates for individuals be set with a tax-free threshold of 35,000 lekë per month, rising to 10% for wages between 35,000-335,000 lekë per month.

For earnings above 335,000 lekë per month individuals will be taxed at a rate of 20%. 

/Ora News.tv/