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Algerian Lawmakers Wave Through 2013 Finance Law

by Ulrika Lomas, Tax-News.com, Brussels

20 November 2012


The Algerian People’s National Assembly (APN), or lower house of parliament, has recently adopted the country’s 2013 finance law, providing for the introduction of new tax exemptions as well as for the introduction of measures aimed at combating tax evasion, to benefit national revenues.

Adopted by a large majority, the text, which does not contain plans to introduce any new taxes in Algeria, provides for exemptions from registration duties and agency fees.

As regards plans to simplify tax and customs procedures, the text provides for the “centralization” of payments of professional business tax (TAP) at the directorate of large enterprises (DGE).

According to the Algerian finance ministry, the text provides for measures intended to facilitate export procedures via the establishment of a so-called “draw-back” customs regime. The new regime will enable individuals, during the exportation of goods, to obtain either full or partial reimbursement for duties and taxes affecting the importation of any production inputs.

The government also plans to ease customs clearance procedures and to implement a simplified declaration.

To strengthen the fight against tax evasion, the text provides notably for changes to be made to the sanctions imposed in the case of failure to provide supporting documentation for transfer pricing and provides for sanctions to be applied following a blatant tax crime.

As part of efforts to boost small- and medium-sized companies (SMEs) in Algeria, the text expands the scope of financial support provided by the dedicated guarantee fund for SME investment credits, to include businesses where part of the capital is held by the state investment fund.

The text provides for an increase in budgetary revenues of 10% and for a reduction in expenditure of 11% compared with 2012, representing a budget deficit of around 19% of gross domestic product, against 28% in the 2012 finance law.

TAGS: individuals | compliance | tax | business | tax compliance | tax avoidance | law | budget | Algeria | fees | transfer pricing | tax breaks

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