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Full list/ All free professions that will pay tax up to 23 percent

2023-12-23 09:25:42Biznes SHKRUAR NGA REDAKSIA VOX

Full list/ All free professions that will pay tax up to 23 percent

From January 1, 2024, all commercial or self-employed individuals will no longer be treated as a small business with 0% tax, but will be taxed for the profit declared by the business up to 14 million ALL per year at the tax rate 15% and for the declared profit above 14 million ALL per year 23%, after deductible expenses.

The list of free professions approved a few days ago by the decision of the Council of Ministers, published in the Official Gazette includes the activities of IT services, accounting, lawyers, education, doctors, real estate, news agencies, employment agencies , sports, tourist operators, etc.

The list for free professions is divided into 26 types of activities, divided into 180 professions according to the type of activity.

According to the division into activities, the new taxation will include the following: Films, video and television program production, voice recording and music production activities; Information technology services; Information service activities; Financial services activities, except insurance and pension financing; Insurance, reinsurance and financing of pension funds, excluding compulsory social insurance; Ancillary financial intermediation activities other than pension insurance and financing; Real estate activities; Legal and accounting activities; Architectural and engineering activities; Activities of technical controls and analyses; Publicity and market research; Other professional, scientific and technical activities; Veterinary activities; Leasing activities; Employment activities; Travel agency, tour operator and other reservation service activities; Office administration, administrative support and other support activities; Public administration and protection; Compulsory social security; Education; Health activities; Activities of medical and social care centers; Social care activities without accommodation; Creative activities; Arts and recreational activities; Fun and recreational sports activities; Other service activities.

How much will the freelancers pay more from January 1?

Accountants claim that natural persons or the self-employed of free professions will be burdened with tax burden more than commercial companies. According to the calculations, for a natural or self-employed person who declares the annual taxable profit of 20,000,000 ALL, he will pay 3,480,000 ALL per year. Compared to commercial companies, the natural person or the self-employed for the tax declared according to the example in the amount of 20,000,000 ALL will pay 2,120,000 ALL per year more than the commercial companies.

Example according to the accountant

How much will commercial or self-employed natural persons of free professions pay for the income band up to 14,000,000 ALL with 15% tax.

If a commercial or self-employed natural person, after deducting from the gross income any deductible expenses and any deduction allowed according to Article 22 of the law, declares the annual taxable profit in the amount of 12,000,000 ALL, the tax he will pay will be 12,000,000 x 15% = 1,800,000 ALL.

How much will commercial or self-employed natural persons of free professions pay for the income above ALL 14,000,000 with the 23% tax.

If a commercial or self-employed natural person, after deducting from the gross income any deductible expenses and any allowed deductions, according to Article 22 of the law, declares a taxable profit of 20,000,000 ALL, the tax he will pay will be: 14,000,000 x 15% + 6,000,000 x 23% = 2,100,000 + 1,380,000 = 3,480,000 ALL. So, the tax that the taxpayer will pay, for a taxable profit of 20,000,000 ALL, will be 3,480,000 ALL.

How much do commercial companies pay?

For commercial companies, when declaring a taxable profit of 20,000,000 ALL x 15%, the tax they will pay will be 3,000,000 ALL. From the difference of 20,000,000 which is the declared taxable profit - 3,000,000 profit tax paid = net profit 17,000,000 ALL x 8% dividend will pay 1,360,000 ALL.

Whereas the self-employed natural person who declares the annual taxable profit of 20,000,000 ALL will pay 3,480,000 ALL per year. Compared to commercial companies, the natural person or the self-employed for the tax declared according to the example in the amount of 20,000,000 ALL will pay 2,120,000 ALL per year more than the commercial companies.

Representatives of the Institute of Chartered Accountants claimed for "Monitor" that the decision with the analytical list of vacant professions should have been published 3 months after the law was passed. The law was approved in March and the VKM was to be published in July-August 2023 respectively.

They continued to reiterate that tax reform creates inequality among taxpayers and hits the middle class. The new law is expected to be sent to the Constitutional Court by the Institute of Chartered Accountants and the National Chamber of Advocates.

Full list/ All free professions that will pay tax up to 23 percent

Full list/ All free professions that will pay tax up to 23 percent

Full list/ All free professions that will pay tax up to 23 percent

Full list/ All free professions that will pay tax up to 23 percent

Full list/ All free professions that will pay tax up to 23 percent

Full list/ All free professions that will pay tax up to 23 percent

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