{"id":6063,"date":"2025-01-31T11:54:36","date_gmt":"2025-01-31T11:54:36","guid":{"rendered":"https:\/\/fondisigal.com.al\/?page_id=6063"},"modified":"2025-02-19T15:22:18","modified_gmt":"2025-02-19T15:22:18","slug":"trajtimi-fiskal","status":"publish","type":"page","link":"https:\/\/fondisigal.com.al\/en\/trajtimi-fiskal\/","title":{"rendered":"FISCAL TREATMENT OF THE FUND"},"content":{"rendered":"
<\/span><\/div><\/div><\/div>

FISCAL TREATMENT OF THE FUND<\/strong><\/h3><\/h3><\/div>

The pension fund is a group of assets, created based on a contract and without legal personality; therefore, it is not subject to income tax or value-added tax. The taxation of the Fund is based on Law No. 29\/2023 \"On Income Tax,\" as well as the subordinate legal acts for its implementation.<\/p>\n<\/div><\/div><\/div><\/div><\/div>

TAX REGIME OF THE PENSION FUND, ARTICLE 156 OF LAW 76\/2023 \u201cON PRIVATE PENSION FUNDS\u201d:<\/strong><\/h3><\/h4><\/div>
\n
\n
\n
\n
    \n
  1. Contributions: The contribution made by each member of a pension fund is deducted from their personal income
    \nfor tax purposes.<\/li>\n
  2. Investment Return: Returns on investment, including capital gains derived from the pension fund\u2019s assets, are exempt from taxation for both
    \nthe pension fund itself and the management
    \ncompany.<\/li>\n
  3. Employer and Other Contributions: Contributions made by the employer
    \nor any other third party on behalf of a pension fund member are not classified as taxable personal income for the member.<\/li>\n
  4. Monthly Tax Benefits Limit: The maximum monthly limit for tax benefits, according to point 1 of this article,
    \nis up to the level of the minimum wage approved nationwide.<\/li>\n
  5. Purchase of Pension Fund Shares: The purchase of shares in a pension fund is a financial service and
    \nis exempt from VAT.<\/li>\n
  6. Depository Services: Services provided by the custodian to the management company and members are
    \nconsidered financial services and are exempt from VAT.<\/li>\n
  7. Early Withdrawal Taxation: Early withdrawals are taxed at the applicable personal income tax rate for
    \nthe full value of the early withdrawal, including contributions.<\/li>\n
  8. Life Insurance Contracts: The purchase of a life insurance contract in an \"annual\"
    \nform from a life insurance company that provides regular,
    \nperiodic income will be treated with the same fiscal benefits as periodic payments specified in Article 75 of this law.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div>

    FISCAL TREATMENT OF CONTRIBUTIONS MADE BY THE EMPLOYER, ARTICLE 157:<\/strong><\/h3><\/h4><\/div>
    \n
    \n
    \n
    \n
      \n
    1. Contributions made by the employer in the interest of their employees to a pension fund are considered operational expenses up to the annual amount for each employee, equal to the approved minimum annual wage at the national level. This amount is considered an allowable expense for profit tax purposes.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div>

      FISCAL TREATMENT OF PAYMENTS RECEIVED BY MEMBERS, ARTICLE 158:<\/strong><\/h3><\/h4><\/div>
      \n
      \n
      \n
      \n
        \n
      1. Periodic Monthly Payments: Payments received by a pension fund member on a periodic monthly basis are taxed according to the applicable income tax legislation in the Republic of Albania.<\/li>\n
      2. Immediate Payments: Payments received by a pension fund member immediately, before the 2-year term specified in Article 75 of this law, are taxed in accordance with the applicable income tax legislation.
        \nPoint 7.<\/strong>\u00a0Payments received monthly are taxed only for the return on investment, at the applicable personal income tax rate.
        \nPont 9.<\/strong>\u00a0Payments received immediately, before the periodic monthly payments begin, are taxed at the applicable personal income tax rate for the full value of the assets withdrawn, including contributions.<\/li>\n
      3. <\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div>

        EARLY WITHDRAWAL<\/strong><\/h3><\/h4><\/div>
        \n
        \n
        \n
        \n
          \n
        1. If a member of the Fund requests to withdraw the accumulated assets from their individual account without meeting the legal criteria for retirement, this is considered an early withdrawal, which will incur a penalty.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div>

          EARLY WITHDRAWAL PENALTY<\/strong><\/h3><\/h4><\/div>
          \n
          \n
          \n
          \n
            \n
          1. The Management Company will apply penalties for early withdrawals, calculated based on the net value of the assets requested for early withdrawal, after tax deductions according to the applicable legislation at the time of the withdrawal.\nThe penalty percentage for each case is calculated proportionally based on the contribution period:\n
              \n
            • 15% up to 5 years from the date of the first contribution.<\/li>\n
            • 10% if more than 5 years but no more than 10 years have passed since the first contribution.<\/li>\n
            • 5% if more than 10 years have passed since the first contribution.<\/li>\n
            • 0% if the client is at the legal retirement age or within 5 years before retirement.<\/li>\n
            • 0% if the client is classified as permanently unable to work.<\/li>\n<\/ul>\n

              Upon reaching the legal retirement age for voluntary pension eligibility, the client has the option to withdraw their pension fund either in a lump sum or periodically, according to their preference.
              \nFor the purpose of calculating the early withdrawal penalty, the first date of payment of the contribution to the first pension fund will be considered the date of the first contribution.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div>

              FISCAL TREATMENT OF THE SIGAL FUND:<\/strong><\/h3><\/h4><\/div>
              \n
              \n
              \n
              \n
                \n
              1. The taxation of the SIGAL Fund is based on Law No. 29\/2023 \"On Income Tax\", and the related subordinate legal acts.\nIncome generated from securities is considered taxable for personal income tax purposes. Investors are taxed only on the capital gains accrued in the fund at the time of withdrawal.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"TRAJTIMI FISKAL I FONDITFondi i pensionit \u00ebsht\u00eb nj\u00eb grup asetesh, [...]","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"100-width.php","meta":{"footnotes":""},"class_list":["post-6063","page","type-page","status-publish","hentry"],"yoast_head":"\nFONDI SIGAL - P\u00ebr nj\u00eb t\u00eb Ardhme t\u00eb Sigurt<\/title>\n<meta name=\"description\" content=\"Fondi Sigal - Fokusi jon\u00eb \u00ebsht\u00eb nj\u00eb plan pune fitimprur\u00ebs p\u00ebr t\u00eb q\u00ebn\u00eb lider, t\u00eb krijojm\u00eb strandartin dhe t\u00eb udh\u00ebheqim tregun.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fondisigal.com.al\/en\/trajtimi-fiskal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FONDI SIGAL - 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