Once a company is registered in Albania, it must comply with yearly reporting obligations to maintain its legal status and avoid penalties. These requirements apply to all company types, including limited liability companies (SHPK), joint stock companies (SHA), and branches of foreign entities. The reporting process involves both financial and administrative filings and must follow local accounting and legal standards.
Financial statements
Each company must prepare and submit its annual financial statements to the National Business Center. These include the balance sheet, income statement, cash flow statement, and explanatory notes. The financial reports must reflect all company activity and be prepared according to Albanian accounting standards.
For small companies, simplified formats may apply, but the core requirement to file remains the same. Larger companies and those with public interest must also have their financials audited by a licensed auditor.
Tax declarations
In addition to financial reporting, companies must file their annual income tax declaration with the tax authorities. This includes reporting total income, deductible expenses, and the final profit or loss for the fiscal year. The deadline for submission usually falls in the first quarter of the following year.
Companies must also ensure that all monthly tax filings for payroll, VAT, and withholding tax are up to date before filing their annual report. Any unpaid taxes or missing declarations may block the annual approval process.
Company status confirmation
Each year, companies must also confirm their operational status with the National Business Center. This includes verifying shareholder data, registered address, and company activity. If there are no changes, the company still needs to file a confirmation statement to keep its records current.
Failure to confirm status or submit required filings can result in fines, suspension of the business license, or removal from the commercial register.
Staying compliant with Albania’s annual reporting rules is essential for maintaining an active and legally operating business. Companies that plan ahead, keep records organized, and follow local deadlines can meet these obligations smoothly year after year.