A recent amendment to the existing Article 41 of the Instruction
no.6, dated 30.01.2015 "On VAT in the Republic of
Albania" as amended, has been adopted by the Minister of
Finance with the Instruction no.13 dated 17.05.2016.
An important principle of the existing VAT legislation
concerning VAT exemption of the specific financial services only
when such services are supplied by duly established and licensed
financial institutions in the Republic of Albania, has been
affected with this recent change.
Therefore, according to the new Article 41 of the VAT
Instruction are exempted from VAT the financial services expressly
and exhaustively set forth in the relevant Article 53 of the
Albanian VAT Law, regardless whether such transactions are
performed or not from a financial institution. In addition, any
other transaction which is not expressly provided in the Article 53
of the VAT Law, whether it is supplied by a bank or financial
institution or it is supplied to a bank or financial institution
will be not exempted from VAT.
To conclude, the application of VAT exemption is directly linked
to the nature of the services and not to the entity or the service
provider or the person who receives the service. Also, it is not
relevant to the exemption if such service is offered by electronic
means, manually or automatically.
The Instruction no.13 dated 17.05.2016 is effective as of May
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