To keep you up-to-date with the latest economic and
financial developments, this Tax Alert prepared by our Tax Team
provides information that may affect the operation of your business
in Albania.
New Law on Accounting and Financial Statements
The new Law no. 25/2018 "On Accounting and Financial
Statements", effective from 01.01.2019, has replaced the
existing Law no. 9228, dated 29.04.2004, and is partly harmonized
with the new EU Accounting Directive 2013/34/EU.
Below is a summary of the changes introduced by the new law.
Broader Concepts
The new law brings not only a clearer and better definition of
the basic concepts, but also extends the variety of the terms such
as "public interest entities", "financial holding
entities", "group of entities", "participating
interest", "consolidated financial statements",
"functional and presentation currency", etc.
