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The contract stipulates that for any negative effects arising during the period for the company, the agreement is amended to recover the negative effects.
Therefore, with the coming to power of the Rama government, which changed the fiscal framework by adding three taxes on fuels such as Excise, Turnover and Carbon, the contract with Bankers for the 100% tax recovery was changed. The contract stipulates that Bankers conduct tenders only for values over $ 2 million, for values below this figure it selects its own subcontractors, without competition.
“It means that there are other elements related to financial management, related to subcontractors, who in the case of Albania various observations show that they have been selected under political influence and their profits are very high compared to the loss in quotation marks resulting from the basic company “said Zef Preçi, economics expert.
“The fact that governments protect the interests of private companies and not citizens and often do so in an occult way, means that the economic and political system is unbalanced, so the interests are not balanced, this bias of the government discredits the role of government in a democratic system. It radically and deeply undermines the society’s trust in the democratic system “said Selami Xhepa, economic expert
The agreement between Bankers and Albpetrol is a hydrocarbon agreement and is made by production division according to a certain formula which is the Achilles heel of abuse from which to this day the Albanian state receives zero profit tax from this company for almost two decades.
For Albanians, the oil they use for transportation is subject to seven taxes. “The Albanian state has received from Bankers so far only the oil that was found there at the moment that Bankers received the wells. In addition, the agreement stipulates that at the moment that the level of income that Bankers would realize, would equalize the level of investments, then the profit that would come later would be shared 50 by 50 with the Albanian state.
Unfortunately this situation has never been achieved. The famous R factor considered in the contract has not been realized. Expenditures always exceed revenues. To be honest with as much knowledge as I have, I do not believe that it will ever be realized “said Besian Pesha, Former Head of AKBN
Albpetrol over the years has historically produced significant quantities of oil, 200 thousand tons in the lowest cases up to 2.2 million crude oil per year. And at the time of signing this contract, Albpetrol was with over 300 thousand tons of oil per year. The production part of Patos Marinza is the main part of Albpetrol production.
“Logic dictates the basic principle of the hydrocarbon agreement, Albpetrol should have continued to receive this amount of crude oil that it used to produce. ALbpetrol should also receive the additional amount that came from the production of wells from investments. And the agreement on this has been signed. So to enable investments in oil wells and to increase oil products in them “said the economic expert Ilir Ciko.
“I find this very disturbing and we do not know the reasons why such a thing happened. Technically I do not think there is a reason to justify that the oil wells that were owned by Albpetrol at the time of the deal had such a drastic drop in their production over the years to make it possible to fall to these levels that they are very, very minimal “said the economic expert Ilir Ciko
Bankers has always had a declared non-fiscal profit. It has been listed on the stock exchange and has resulted in significant stock increases.
While always declaring fiscal losses. Bankers says it reinvests everything in the wells and has nothing left to tax.
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