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Attention! Changes in legislation regarding taxpayer’s registration make it mandatory to open a business bank account, for all new businesses physical persons subject of value added tax payment, legal entities regardless of their turnover, as well as non-profit organizations registered with the tax authority, no later than 20 calendar days from the day after registration with the National Business Centre.
For all businesses (subject of VAT regardless of turnover and NGO-s) already registered business in QKB, the deadline of opening a bank account is 90 days after the entrance in force of the Law (25.07.2019)
Failure to fulfil the obligation shall be object of fines as follows:
a) for taxpayers, physical persons, with a turnover of up to ALL 8,000,000 (eight million), a fine of ALL 25,000;
b) for taxpayer legal entities, irrespective of their turnover, as well as taxpayers registered as physical persons, with turnover over ALL 8,000,000 (eight million), a fine of ALL 50,000;
c) for non-profit organizations, a fine of 37,000 ALL.
In case of non-compliance with the obligation, even after conviction, the taxpayer shall befined with double of the amount of the first fine. "
(LAW NO. 31/2019 - ON SOME ADDITIONS TO LAW NO. 9920, DATED 19.5.2008, "ON TAX PROCEDURES IN THE REPUBLIC OF ALBANIA").