Taxes for the sale of property change: 23% if you earn over 2.4 million ALL

2022-05-28 17:19:28Biznes SHKRUAR NGA REDAKSIA VOX

Taxes for the sale of property change

If the profit from the sale of a property will be more than 2.4 million ALL, the tax that the state will keep will increase to 23% and not 15% as it is today.

In the new draft law on income tax, the money that the homeowner will realize from the sale of the property will be taxed progressively.

At the moment that less will be earned from the property, then the value to be paid in taxes is 13%. But again this income will be collected with the money that the seller receives from salary, business or other sources and when the limit exceeds the value of 2.4 million ALL, the tax will be 23%.

When the profits from the sale of the property will be over 24 million ALL, the tax becomes 28%.

Currently the state taxes at 15% the difference between the value of the sale and that of the purchase of the house.

If a house bought years ago cost 5 million new lek and today is sold for 15 million lek, the homeowner pays 1.5 million lek in taxes. With the new way he will pay 2.3 million ALL.

The draft is in the consultation phase and is expected to be presented in June by the Ministry of Finance and after this phase is completed, it will be sent to the Albanian Parliament for approval. / Euronews Albania

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