Prishtine, November 19, 2019 – Following the activities organized as part of the Global Entrepreneurship Week, AmCham organized the event “Starting Up in Kosovo: Legal and Tax Considerations”, where different points of view regarding the laws and tax system in the country, as well as their impact in starting up a business were discussed.
Ruzhdi Zenelaj, senior tax expert and advisor at Deloitte Kosovo, provided important information regarding the tax challenges and opportunities for starting a business, stressing that the tax system in Kosovo is similar to that of EU countries. He also cited relevant laws in these matters, and considered the fact that these laws leave much room for interpretation as one of the main challenges. Furthermore, Zenelaj also focused on some favorable provisions of the laws, as opportunities that should be considered for boosting entrepreneurship.
Virtyt Ibrahimaga, Attorney-at-Law and Partner in the law firm Shita and Ibrahimaga, stated that the main challenge which startup businesses in legal terms face, is the fact that Kosovo does not have any supporting laws, as many of the developed countries in Europe and America have. Such practices highly encourage new business creation by covering their initial spendings such as rent and others, and by providing an adequate infrastructure for starting a business. Nevertheless, he mentioned that an advantage for startup businesses in Kosovo, is the fact that legal procedures for establishing a company are more simple.
In addition, both panelists encouraged participants to seek professional counseling as this helps them to avoid potential risks.