- Albania has approved a series of decisions to implement Law no. 58/2022, which offers tax and legal incentives for the development of technological and scientific parks.
- These incentives include expedited permit processing, government-funded infrastructure up to park borders, 0% tax rate on Albanian goods used in the parks, 0% corporate income tax for 15 years, exemption from taxes for R&D personnel for 10 years, VAT exemption on goods and services used for innovative product development, exemption from tax on infrastructure and real estate for 10 years, and possible government refunds for R&D personnel training costs.
- Intellectual property income generated in the parks may also qualify for further tax benefits for five years, and the parks are treated as customs free zones.
- Developers must obtain approval and start economic activity to be eligible for these incentives, and transferring existing activity to the parks for the purpose of benefiting from the incentives is prohibited.
Source KPMG
