Albania: K&A Seminar In Collaboration With Italian Chamber Of Commerce In Albania
Last Updated: 15 June 2017

Last Friday, June 1, KALO&ASSOCIATES in collaboration with Italian Chamber of Commerce in Albania (CCIA) organized a seminar on:"The mechanisms offered by the most recent Albanian legislation with regards to the write-off and restructuring of debts for the enterprises operating in Albania". The seminar aimed to inform the attendees, mainly CCIA member enterprises, as well as professionals and researchers, with the latest developments in the Albanian legislation in the area of tax and bankruptcy, and in particular to provide a "preliminary" comment on the mechanisms presented by Law no. 33/2017, "On the payment and write-off of tax liabilities, payable customs liabilities, and the procedure for the removal from the circulation of the means of transport after the write-off of tax liabilities", known as the Fiscal Amnesty Law, and by Bankruptcy Law no. 110/2016 and the mechanisms provided for the debt restructuring of commercial companies in financial difficulties (in particular, the latest innovation provided for the first time in the Albanian legislation: "Accelerated restructuring"). More specifically, the senior partner of the firm, Ardjana Shehi, emphasized the common thing two legal acts have – the aim of the Albanian legislator (ratio legis) to facilitate and favour the business activities of businesses operating in Albania, with a 'fresh start'.

Due to importance for the public at large, mainly medium and large-sized enterprises, the seminar did also provide a quick overview on the obligations arising ex-novo from the new Law no. 60/2016, "On Whistleblowing and Whistle-blowers Protection", and in particular on the obligation to create the "Specialized Units" for the whistleblowing and whistle-blowers protection in enterprises with more than 100 employees (speaker, Av. Armando Toslluku).

 

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