To link to this article, copy this persistent link:
(Jan 23, 2013) On December 30, 2012,
- The net wealth tax minimum threshold will be increased to DZD50 million (about US$636,000) from the previous DZD30 million, and the applicable tax rate will change for different categories of high income, to:
- 0.25% for wealth of DZD50-100 million;
- 0.50% for DZD100-200 million;
- 0.75% for DZD200-300 million;
- 1.00% for DZD300-400 million; and
- 1.50% for over DZD400million.
- Imported merchandise that is re-exported will be subject to taxes, duties, and fees.
- Small and medium-sized enterprises owned in part by the Public Investment Fund will be eligible for guarantees provided by a Credit Guarantee and Investment Fund.
- The threshold for investments to be governed by the National Council for Investment will increase from DZD500 million to DZD1.5 billion. (Monia Naoum, Algeria: Draft Finance Law 2013 Adopted by Parliament, TAX NEWS SERVICE (Nov. 12, 2012), IBFD online subscription database.)
The National Council for Investment is a government body that determines investment strategies and approves special investment incentives for certain sectors of the economy. (U.S. Department of State, 2011 Investment Climate Statement –Algeria (Mar. 2011).)
Once the Finance Law was published, two other provisions were reported. Mining companies now established in four cities (Illizi, Tindouf, Adrar, and Tamanghasset) will no longer benefit from a 50% reduction in corporate income tax; the reduction had originally been scheduled to last for five years, beginning January 1, 2010. In addition, large enterprises that submit refund claims for excess value-added tax they have paid are entitled to an advance payment equal to half the amount they claim. (
The law became effective on January 1, 2013. (
- Author: Constance Johnson More by this author
- Topic: Taxation More on this topic
- Jurisdiction: Algeria More about this jurisdiction
Search Legal News
Find legal news by topic, country, keyword, date, or author.
Global Legal Monitor RSS
Get the Global Legal Monitor delivered to your inbox. Sign up for RSS service.
The Global Legal Monitor is an online publication from the Law Library of Congress covering legal news and developments worldwide. It is updated frequently and draws on information from the Global Legal Information Network, official national legal publications, and reliable press sources. You can find previous news by searching the GLM.
Last updated: 01/23/2013