Algeria’s 2011 Complementary Finance Act: New measures to preserve purchasing power   Leave a comment

Algeria’s 2011 Complementary Finance Act proposes incentives to create small and medium-sized companies and the expansion of consumption products price subsidy.

  • Those measures aim at preserving purchasing power. The cabinet decided customs tax and value-added tax exemption on raw vegetable oil, white and brown sugar imports.
  • The measures also suggest supporting small companies and creating new jobs for 65 to 80 percent people in northern Algeria and 72 to 90 percent in high lands and the south.
  • The incentives also include the creation of a gradual tax for small enterprises created as part of the National Agency for Young People Employment (ANSEJ), the Caisse Nationale d’Assurance Chômage (CNAC) and the Agence Nationale de Gestion du Microcrédit (ANGEM).
  • The small companies will benefit from 70 percent tax reduction in the first year, 50 percent in the second year and 25 percent in the third year.
  • The measures stipulate the creation of a gradual tax for new activities to eliminate unofficial market. The activities will be benefit from tax exemption during the first two years, 70 percent tax reduction for the third year, 50 percent for the fourth year and 25 percent for the fifth year.
  • The tax privileges also touch the ANGEM.
  • The Finance Act is expected to be presented to the People’s National Assembly (APN) for approbation.
Source: Echoroukonline/APS
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Posted May 12, 2011 by newworldconsulting in Uncategorized

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