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Algeria May U-Turn On Single CIT Rate

by Lorys Charalambous, Tax-News.com, Cyprus

29 May 2015


Algeria's Prime Minister, Abdelmalek Sellal, has indicated that the Government will review its decision to introduce a single rate of corporate income tax in an additional Finance Act for 2015.

The earlier Finance Act for 2015 replaced the 19 percent rate that had been levied on a wide range of sectors, including manufacturing, with a single 23 percent rate for all sectors. This included those businesses engaged in services or trade, which had been subject to a 25 percent rate.

Sellal said that the decision had been unpopular and confirmed changes will be announced in a supplementary Bill to benefit manufacturers.

TAGS: Finance | tax | investment | tax incentives | corporation tax | Algeria | manufacturing | tax rates | tax reform | individual income tax

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