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Algeria To Introduce Self-Assessment

by Lorys Charalambous,, Cyprus

17 September 2015

Algeria's Director General of Taxes, Abderrahmane Raouia, has said that taxpayers eligible for the flat-rate IFU tax will self-assess from February 2016.

The IFU is a simplified tax available to businesses with an annual turnover of less than DZD30m (USD284,000). It is charged at 5 percent for the production and sale of goods and 12 percent for other activities.

Raouia said that the introduction of self assessment for this tax will relieve the tax authorities of the routine work of administering this tax and so enable them to concentrate on compliance issues and investigations.

Taxpayers will declare their turnover and pay tax for the relevant tax year. If their estimate proves inaccurate, they will be obliged to make a supplementary declaration between January 15 and January 30 of the following year. The tax authorities will have the right to make any adjustments they judge necessary, subject to an appeal procedure.

TAGS: compliance | tax | small business | business | tax compliance | corporation tax | Algeria | small and medium-sized enterprises (SME) | tax reform | individual income tax

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