Algeria postpones interest-free loans for young enterpreneurs

Algeria’s 2013 Complementary Finance Law which was banned by the government included a set of fiscal measures meant to reduce fuel high consumption, encourage young enterpreneurs to start small and medium business, raise tax exemption duration for small enterprises to 10 years.

Beause of that,economic and social committments announced by Algeria’s Prime Minister Abdelmalek Sellal will be postponed until the next year because of the cancellation.

The banned text included the following main points :

 To grant frecord fiscal incentives to foreign direct investments which support national integration by more than 60 percent and help to transfer experitse .

To ban the requirment of submitting oreign direct investments to the National Council of Investment for examination except projects which call for fiscal advantages stipulated in Article 03-01 of the investment law.

To grant fiscal advantages to projects which create 100 direct jobs for 3 years.

To apply new taxes on new cars which use polluting substances.

A-60 DZ-fixed tax  new cars selling within 6 months after ithey are put in operation for the first time. Locally produced cars do not have to pay the taxes.

To limit car exporting in car dealers living in Algeria.

To forbid car dealers to import more than one brand and to import cars for another brand car dealer.

To forbid natural persons to export gold, sliver and platine. Companies should respect specifications and their capital must not be under 100 million DZ.

To fund the construction of 150,000 houses through the Treasury and public banks.

Tax exemption for call centers which offerservices to companies based abroad provided that permission is delivered by post and telecommunications regulation authority.