The American Chamber of Commerce in Albania is following with great concern the challenges presented by the COVID-19 global pandemic and offers its support to prevent, contain, and mitigate the consequences of its spread.
AmCham appreciates the measures taken by the Government of Albania to minimize the spread of the virus and the serious efforts to save the lives touched by this virus. Many businesses supporting the social distancing efforts are beginning to feel the economic strain of the extraordinary containment measures. We urge the Government of Albania to develop a parallel emergency plan in support of the business community to prevent a deep economic crisis from sapping the economic health of the country.
We are in this together, and we must all work together to identify best solutions designed to minimize the long-term adverse effects on the business community and, more broadly, the national economy.
AmCham fully supports its member companies and the business community as a whole by offering everything at its disposal to tackle the challenges of the coming months. While supporting the government’s actions, which have suspended the activities of many businesses in the country, AmCham is offering to assist the government in identifying measures to ease the burden for businesses during this difficult time.
This is not business as usual. Government policies should be tailored to match the extraordinary time we are living in. We believe our recommendations will come to the aid of all businesses that have been harmed financially, allowing relief from financial obligations imposed during normal conditions. We recommend the following steps be taken immediately:
- Postponing the timelines required for:
- Financial Reporting
- The filing and payment of the value added tax, and;
- The annual notification of controlled transactions
- The elimination of all fiscal obligations for at least three months and for businesses in the tourism sector for six months
- The creation of an emergency fund that will allow quick access to capital (by way of grants or long-term loans) to help businesses cope with the negative effects of this period
In order to minimize the effects of the next few days, AmCham will be in continuous contact with its member companies offering its assistance during these extraordinary days.