Algeria's Draft Finance Bill 2016 Published

by Lorys Charalambous, Tax-News.com, Cyprus

14 September 2015

Algeria's Government has published the draft Finance Bill for 2016, which includes VAT and duty increases.

The Bill has the overall aims of increasing tax yields and decreasing expenditure. The main proposed tax increase is a rise in the VAT rate from the current 7 percent to 17 percent for certain supplies. This will apply to electricity in cases where the consumption is more than 125kw/hour, to provision of 3G services and to diesel fuel.

In and effort to support local producers, import duties on a wide range of goods will be greatly increased, by amounts of up to 60 percent. This will affect certain foodstuffs, electronics and luxury cars.

Drivers will see an increase in road tax and a new insurance tax applicable to diesel vehicles.

TAGS: Finance | VAT rates | tax | value added tax (VAT) | fiscal policy | vehicle tax | VAT legislation | insurance | budget | insurance tax | Algeria | food | legislation | tax rates | import duty | tax reform | services

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