Albania: Covid-19-virus relief measures (Notice 1)

19. March 2020

On 19th of March 2020, Albanian Government revealed certain measured of their relief plan as below:

  • Up to 100 million USD sovereign guarantee for cash liquidity for companies that need to borrow money from the banks to pay salaries.
  • Up to 57 million USD as a remedy for small businesses, unemployment, and  the families in need.
  • Postponement of the Income tax payments on the second half of the year for businesses with
    a turnover 18,000 USD – 123,000 USD.
  • Postponement of 2019 filing from 31.03.2020 to 31.07.2020.
  • Amnesty of 132 million USD for all interest charges accrued on late energy bill payments. This amnesty will affect 211,024 clients.

Furthermore, the Central Bank of Albania has articulated that companies in financial distress may delay loan payment for three months without penalties.

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