On 18 December 2019, the Albanian Parliament approved Law No. 86/2019 amending the Law No. 9975 dated 28 July 2008 on National Taxes in Albania. The main changes consist as listed in this publication.
Registration of Luxury Car
Upon acquisition, the value of a luxury car should be recorded in the register held by General Transport Service and Roads Directorate. The registered value of a luxury car is to be reduced annually by 10% using the declining balance method. Any subsequent transfer of ownership of a luxury car after its initial registration cannot be registered with a value below the depreciated one in the year of acquisition.
Used Vehicle Tax Exemption
Old vehicles of historical interest and collectible vehicles, defined as such in specific laws and by-laws, will be exempt from the payment of the initial registration tax and annual tax on used cars.
Late Payment of Used Vehicle Tax
The penalty for late payment of the annual tax on used vehicles will be calculated as 0.06% per each day of delay, however it cannot be calculated for period longer than 365 days.
Entry into Force
Law 86/2019 is published in the Official Gazette No. 184 dated 31 December 2019. This Law becomes effective 15 days after the publication.
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