Albania adopts new law to relax levies on hotel investment

Source: Xinhua| 2017-11-14 02:54:21|Editor: huaxia
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TIRANA, Nov. 13 (Xinhua) -- The Albanian government has adopted a new tourism law regarding relaxing the criteria that four and five-star rated hotels must meet in order to obtain a special status, a press release of Council of Ministers said Monday.

According to the draft law, four-star hotels with a minimum investment of 8 million euros (9.3 million U.S. dollars) and five-star hotels with a minimum investment of 15 million euros will benefit from tax exemptions on these investments.

According to the new fiscal package, special status hotels will benefit from tax exemptions for a period of 10 years, while five-star hotels will not pay the infrastructure tax.

"Every accommodation facility that obtains a five-star rating from the 30 international luxury brands will not pay taxes for 10 years," Albanian Prime Minister Edi Rama told reporters few weeks ago when the initiative was launched.

According to PM, the improvement of service quality in the sector of tourism will be high on the agenda of the new government led by Rama in its second term of office.

He further said the incentive would also be applied to four-star hotels, considering the fact that currently Albania has only one or two five-star hotels in capital city Tirana.

On the other hand, Rama warned tougher measures for operators working against the market rules or those failing to meet hygiene or service standards. (1 euro = 1.17 U.S. dollars) Enditem