Investment Council Discusses Formalisation in Agriculture, with a focus on VAT Compensation Scheme
On Wednesday the Investment Council held its 6th meeting chaired by the Minister of Economic Development, Trade, Tourism and Enterprise, Ms. Milva Ekonomi. Present in this meeting was also the Deputy Minister of Agriculture, Rural Development and Water Management, Mr. Roni Telegrafi, as well as a group of representatives from associations of agribusiness sector. The topic of discussion was formalisation measures taken by the Government in agriculture in the perspective of opening new market structures, raising the standards of food safety and the promotion of investments, with a focus on VAT compensation scheme. Minister Ekonomi highlighted the ongoing efforts and measures provided by the Government toward Agriculture, as one of the priority sectors of the country, the positive progress of the VAT compensation scheme by 20% to the farmer and the increased budget for the financial support schemes of the sector.
In her presentation, Head of Secretariat, Ms. Diana Leka focused on the importance of monitoring the current model of the market beginning from the end markets, increase the control of inputs to enable product traceability as well as the need to make more progress in the registration of the farmers to further enhance investments in agriculture. A special emphasis was put towards the monitoring process of the technological cards from the business. Regarding awareness issue among farmers, Ms. Leka stressed the fact that a low level of awareness was noted especially on the usefulness of the registration with the Taxpayer Identification Number. For this purpose, it was suggested setting up a working group for a more in-depth study of the process in an intensive pilot area (where the number of registered farmers plays an important factor, taking into consideration the production chain as well as the economic and financial impact).
Based on the analysis made by the Secretariat, in consultation with experts of the field, business associations, farmers and collectors, the Investment Council raised some requests and recommendations to the Albanian Government, with the objective to have a more stabilised formalisation reform to promote investments in agriculture and increase food safety.