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The Prime Minister of Albania Edi Rama announced on a press conference that the government has cut taxes to zero for small businesses whose annual turnover is between 0 – 50.000.000 Albanian LEK, or around 36,400 Euros.
"All businesses that have an annual turnover no more than 36,000 Euros in a fiscal year, will not pay any tax. While any other business that has a turnover between 36,000 – 58,200 Euros (Approximate value), while remain subject to VAT, while the tax on profit while drop from 7.5% to 5%.
Shqip should be easy enough to learn...
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Zero Taxes for Startups in Albania
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
Fascinating is a word I use for the unexpected.
-- Spock, "The Squire of Gothos", stardate 2124.5
(Score: 2) by SanityCheck on Wednesday November 25 2015, @02:35PM
Yes and no. I admire the desire to help new companies, having been part of startup scene here in NJ for some time. Most startups in pre-revenue phase don't pay taxes anyhow. I suppose trying to help a company with some revenue is seen as a way to give the company more money to reinvest int heir employees.... yeah that will happen.
But having a system like that does offer avenues for abuse. I could divide my company into 10 startups, each one doing only one function of the business model.
This kind of abuse happens in the US all the time, where a company will eliminate a department, firing everyone, and create a separate contractor that tries to hire the fired employees for less pay and no benefits. If you live paycheck to paycheck, you pretty much have no option. You can't risk looking for work for too long, so you just got bamboozled. Sometimes they will just hire back the most productive and least expensive (read youngest) employees, giving them a small raise (but not enough to cover the loss of benefits).
If there is a way to abuse a system, and this one is ripe for it, someone will do it. And because of competition soon everyone will do it.
(Score: 2) by Phoenix666 on Wednesday November 25 2015, @03:23PM
Yes, except for those pre-revenue startups who win competitions and hope to use that money as seed capital, only to have the IRS tax the crap out of it.
Washington DC delenda est.
(Score: 2) by frojack on Wednesday November 25 2015, @09:09PM
Two points:
One: The abuses you are talking about generally don't happen with startup companies. It takes a while for start ups to acquire that level of desperation.
Two: The story is about Albania, not New Jersey. My Uncle spent time in both places. He says your confusing the two is not that unusual.
No, you are mistaken. I've always had this sig.