Concerning the land
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Article 2Stimulated zones are designated and proclaimed by decision of the Council of Ministers, based on proposal from the Minister of Tourism. The Ministry of Tourism formulates the strategy for tourism development, which is endorsed by the Council of Ministers. Based on the strategy, city planning studies are carried out and approved to guarantee balanced and sustainable relationship between the environment and the economic opportunities of the zone. The Council of Ministers, based on proposal from the Minister of Tourism, restricts or banns the carrying out of activities in these areas that are not in accordance with the purpose of establishing these zones.
STIMULATED TOURIST ACTIVITYArticle 3Main stimulated activities are: constructions, re-constructions, improvements, extensions, operation of auxiliary structures complementing a tourism complex such as restaurants, shops, thermal baths, sports facilities, marine ports, activities for the production, storing and distribution of food and craftsmanship items, as well as the services of tourist transportation and tourist agencies. Main or auxiliary stimulated activities, besides those mentioned in the paragraph above may be designated by decision of the Council of Ministers, upon proposal from the Minister of Tourism. ADMINISTRATIONArticle 4The Committee for Tourism Development is hereby established as a cross ministerial body, with the following composition: -Deputy Minister of Tourism chairman -Deputy Minister of Finances and the Economy member -Deputy Minister of Construction, Housing and Territorial Regulation member -Deputy Minister of Trade and Foreign Economic Cooperation member -Deputy Governor of the Bank of Albania member The Minister of Tourism approves the regulation of the Committee, whereas the support staff of the Ministry of Tourism will supply the technical and secretarial services. The Committee for Tourism Development has the following main duties and rights: a) Reviews the applications of physical or legal persons for license to engage in stimulated activity or to continue to carry out such activities. The Committee reviews applications for construction grounds to develop stimulated activities and is empowered to approve or refuse such requests. These grounds are made available to the Committee in accordance with provisions of the law together with the city planning studies legally approved. The committee awards construction grounds to the applicant who submits the most profitable offer. The Committee checks whether city planning criterions have been observed in the project design, and arrange for the obtaining of the construction permit from the authorized bodies. b) Reviews any construction permit or authorization for business development that has been granted or is to be granted by the local or central government for non -tourism activity in the stimulated zone, to verify whether these activities are in line with the goals for which the stimulated zone has been established. The Committee is empowered to make the final decision with regard to commencement, refusal or discontinuation of the said permit or authorization, provided that the Committee succeeds in making the case before the Council of Ministers. The Committee communicates a preliminary decision on issues mentioned in letter “a” of this article and the concerned party is entitled to submit to the Committee within 90 days its proposals or objections relative to the decision. The Committee must, within 60 days from the date of submission of proposals or objections, make a final decision. The Decision of the Committee is promulgated by the Minister of Tourism, who has the power to return it to the Committee for reconsideration provided the decision is not in order or well grounded. STIMULATED PERSONS FOR TOURISM ACTIVITYArticle 5Any physical or legal entity desiring to engage in a stimulated activity should submit an application in writing to the Ministry of Tourism. The stimulated person must fulfill the requirements for business start up or for investment in Albania. When the stimulated person is a foreign legal entity and is engaged in a stimulated activity, the duration of the activity will at least equal the validity term of the lease described in article 8, subject to subsequent extensions. This rule applies in the case of joint ventures, too. When the stimulated activity is carried out by various persons, each one of them is considered a stimulated person and is entitled to the respective incentives as per nature of business in accordance with the provisions of this law. When the stimulated activity is transferred to another person, this other person becomes a stimulated person and replaces the transferring subject with all the rights and obligations recognized for stimulated activities.
GUARANTEES AND INCENTIVESArticle 6Investments by foreign stimulated persons are also entitled to the guarantees foreseen in Law No. 7594, dated 04. 08. 1992 “On foreign investment”. The stimulated person has these rights: a) To import foreign currency funds, which are needed to cover investment or operational costs based on equity or borrowed funds. b) To export foreign currency funds to pay interest and cost of credit as described above, or to distribute dividend. c) To maintain a foreign currency account to pay installments of the credit and export dividends. d) Based on bank registration and in accordance with the conditions of the Albanian tax legislation and rules, the foreign stimulated person has the right to export freely foreign currency funds derived from the sale of stock or the sale of capital, liquidation of a stimulated person or compensation made from the implementation of the first paragraph of this article. e) To be exempt from the transfer tax on dividends and transfer tax on loan interest to a financial institution. For countries with which Albania has no agreement in the field of taxation, the 10 per cent tax over loan interest and profit applies as prescribed by the Albanian tax legislation. f) To be exempt from custom’s tariffs and excise on goods imported solely for the purpose of the stimulated activity, provided that these goods are not available in Albania at the same quality, price, and quantities; This rule applies also over the importation of a reasonable amount of spare parts. The stimulated person is entitled to these rights until the end of the third fiscal year. g) To be exempt from profit tax for five years starting from the expiration of the development stage. For another 5 fiscal years the stimulated subject will pay 50% of the profit tax. h) To counterbalance losses made in the first five fiscal years of the activity with the profit made in the subsequent five years. i) To a 40% profit tax if the foreign stimulated person re-invests his profit in Albania. j) Foreign stimulated persons have the right to employ foreign nationals for purposes of carrying out tasks requiring special qualifications, provided that measures are taken to train Albanian nationals in the field of tourism. The training will be subject to following criteria: For every year in the first three years of the business operation, the number of Albanian nationals to be trained will be no less than one third of the foreign nationals employed in the business; while for every year in the next two years not less than one fifth of the number of foreign nationals employed in the business.
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