Albanian gov't to exempt VAT on import of agricultural machineries

TIRANA, Nov. 8 (Xinhua) -- Starting from Jan. 1, 2019, the Albanian government will exempt the Value Added Tax (VAT) for the import of agricultural machinery, Albanian Minister of Finance and Economy Arben Ahmetaj declared on Thursday.

Ahmetaj said to the Parliamentary Committee of Economy that in the new fiscal package, the import of agricultural machinery is exempt from VAT.

"The law exempts VAT on the individual farmers who import, but we shall also exempt the businesses involved in this activity," said the minister.

This measure, according to Ahmetaj, will allow the traders to purchase agriculture machinery, sell them without VAT and stimulate the agriculture production through the new technologies.