Algerian Tax Amnesty Launched
by Lorys Charalambous, Tax-News.com, Cyprus
13 August 2015
Algeria's tax authority has announced the launch of a tax amnesty, dubbed its "program of voluntary fiscal conformity," effective from August 2, 2015.
Provision for the amnesty was made in Article 43 of the the Additional Finance Act 2015. It is being launched as part of a wider push to improve compliance and work towards a more transparent tax system. The Article states that funds can be deposited into Algerian banks with a flat rate tax charge of seven percent and no further proceedings. This is subject to the condition that the original source of the funds must not have been criminal activity.
The amnesty will run until December 31, 2016.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- Should I Incorporate My Business In Texas? »
- International Tax Planning »
- unsurprising teething problems »
- Cyprus Laws and Regulations »
- A warren of rabbit holes »
- GDPR, a possible laughing matter? »
- Why is Hong Kong One Of The Best Place To Base Your International Corporation? »
- Banking in UAE »
- VAT in the Construction Industry »
- Why choose New Zealand as an offshore financial centre? »