Yesterday, Albanian President Ilir Meta refused to decree changes to the Value Added Tax law passed by the Socialist majority that would favor owners of luxury sailing vessels like yachts.
The changes passed by the parliament foresaw tax exemptions for the import of yachts and other sailing vessels used for tourist, leisure, and entertainment purposes, manufactured in the last 20 years.
According to the President, these changes are not in accordance with the country’s immediate needs, as well as with forecasts by financial institutions, that do not recommend tax exemptions for any specific group.
The changes would further decrease the VAT base, and they clearly do not reflect the concerns or interests of the majority of the population amid a costly pandemic, but only those of a rich minority.
