Number of small millionaires has increased in Albania as 12.3000 individuals had annual income of more than ALL 2 million, or about 167.000 ALL per month.

The figure was disclosed by Taxation Directorate, following a request from Monitor and it refers to the declaration of individual annual income, the deadline of which was August 3 (the initial declaration was scheduled for April 30, but was postponed due to the coronavirus situation).

The Individual Annual Income Statement (DIVA) is mandatory to be submitted by resident and non-resident individuals who have taxable income with source in the Republic of Albania in the amount of over ALL 2,000,000 (two million). These are income from salary, dividend, rent, interest, etc.

Compared to previous years, there is a significant increase of "small millionaires", by 37% compared to 2018. In 2017, their number was about 8000.

Although increasing, the number of individuals who receive annual income over 2 million ALL is very small compared to employees in the country.

According to INSTAT, at the end of 2019 there were a total of 690.000 employees in the country (174.000 in the state administration and 508.000 in the private sector). Only 1.8% of employees in the country managed to receive over 2 million ALL in annual income.

Moreover, one third of these individuals need to do more than one job, to have a little more income.