VAT exemption for yachts will promote and incentivise a new industry, says minister of tourism

Minister of Tourism and Environment Blendi Klosi declared today in Parliament that the bill which exempts yachts from Value Added Tax is an economic mechanism that seeks to establish an industry which so far has been inexistent in Albania and to create new jobs.

The minister in charge of tourism told MPs that the financial effect of this exemption for the state budget is nil, as this industry is new to Albania.

“Tourism is not just about the sea, nature and cultural heritage. We need to come up with up new ways of exploiting every asset this country has in order to create more jobs and more economic prosperity”, the minister told MPs.

The minister highlighted the fact that this industry creates new jobs and generates revenues, adding that the aim is to make Albania a lucrative place for a new industry that must be built from scratch, the same thing all Mediterranean countries have done. TemA

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