Algeria imposes fines of 40 percent on foreign companies

The government will impose fine of 25 and 40 percent if foreign companies operating in Algeria do not submit their annual declaration on time. A new tax of 1 percent will also be imposed on real-estate purchasing and selling operations.

The Financial Draft Act 2018 includes many tax measures meant to monitor actions and foreign companies income. They also aim at raising taw revenues, making normal taxes able to compensate oil tax loss and avoiding to impose new taxes on people.

According to Article 163-1, companies which do not submit declaration in conformity with Article 162 will have to pay a fine of a million DZ.

The tax touches companies operating in consultancy field.

The Financial Draft Act 2018 also stipulates a new tax on real-estate advertisement. It represents between 0.5 and 1 percent of real-estate value added to fix financial taxes.