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Bylaws sent abroad for approval as EU raises concerns about money laundering and weakening tax discipline
Although it was enthusiastically adopted as one of the government's key fiscal initiatives, the implementation of "fiscal peace" has been blocked by international partners.
Minister of Finance Petrit Malaj confirmed today that the relevant bylaws and instructions have been completed, but have not been implemented, as they have been sent for consultation to international partners.
" Regarding fiscal peace and debt forgiveness, all relevant bylaws and instructions have been completed by the Ministry of Finance. Given that there have been two very controversial laws, we have forwarded the bylaws to our international partners ," Malaj declared.
He added that the government is waiting for comments and suggestions before starting implementation.
" The moment we receive responses from our international partners, we will immediately proceed with their publication and the full implementation of the law ," said the minister.
Malaj's stance confirms that the implementation of the law no longer depends solely on Albanian institutions, but on the approval of international partners, primarily the European Union.
The EU Delegation in Tirana has previously expressed direct opposition to this initiative. In an official position, the European Commission highlights concerns about the effects that the fiscal amnesty could have on tax discipline and the fight against money laundering.
"The Commission highlighted serious concerns related to the discouragement of tax compliance and reiterated the need to put in place strong anti-money laundering measures in the proposal," the EU's response said, following discussions in the Subcommittee on Trade, Industry, Customs and Taxation on 25–26 November.
In the same vein, the EU requires that any fiscal amnesty be in line with international standards and contribute to the fight against organized crime, directly referring to Moneyval and FATF standards.
The law approved by the Assembly provides for the automatic cancellation of all liabilities accumulated until December 31, 2014, with the exception of insurance contributions. In total, the scheme affects around 2 billion euros in liabilities, of which around 1 billion euros is expected to be fully forgiven for debts over 10 years.
For the obligations for the period 2015–2024, which amount to 84.4 billion lek, the law provides for forgiveness of up to 50% if payment is made by June 2026, or 25% if repayment is made in installments until the end of 2026. In both cases, fines and late payment interest are waived.
A key element of the debate has been the lack of an obligation to declare the source of funds. Erion Braçe's proposal for transparency on the origin of capital and beneficial ownership was removed in the plenary session with the intervention of Taulant Balla.
The delay in implementation and the requirement for international approval call into question the entire initiative, which was presented as an instrument for clearing debts and formalizing the economy, but which currently remains suspended due to objections over the risks it carries. / Pamphlet
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