Implementation of new technologies as part of the fiscalization process in Albanian enterprises

Abstract

Albania like no other country in the region and the EU has experimented many times in a very short time regarding legal changes related to fiscalization systems. In our country, some fiscalization processes have been done, but so far what is claimed has not been achieved, causing the state budget revenues not to increase, due to informality. This paper brings a review of the problems that the fiscalization of our country’s economy is facing and the impact that it is claimed that it will have on the Albanian economy. The purpose of this paper consists in understanding, identifying and analyzing the problems and obstacles that Albanian businesses have encountered in the fiscalization of their entity. In recent years, the fight against aggressive tax planning has become one of the top priorities internationally. International rules are examples of key measures aimed at imposing new standards of tax transparency. Setting up transparency, with companies operating in some countries must be transparent to tax collectors. It is now necessary to prove that the tax paid corresponds to the rate applied in the country in which the company operates. As a result, these new standards pose major challenges for companies’ finance departments, which then have to communicate much more accurate and consolidated tax data to the administration in much larger volumes. Too often, however, the technical means available are insufficient to provide such an amount of information at such a detailed level. Indeed, in-company data processing is neither automated nor centralized, forcing accountants and tax specialists to manually record a significant number of tax rules.