Algeria: The Finance Ministry “strangles” gold and silver importers

The Ministry of Finance has laid out new procedures to regulate the importers’ profession in gold, silver and platinum as contained in an overhauled book of specifications to be retrieved by those concerned from the electronic website of the General Directorate of Taxes or from relevant provincial management bodies in various parts of Algeria.

Prospective importers must have a tax registration before providing a complete record by notably defining exactly the nature of their activity in precious metals imports, as well as their location, their equipment, their registered personnel, and their lease …

In addition, environmental preservation measures should be documented by pinpointing the adequate facilities for waste treatment and the securing of prior approvals from the civil protection for the storage of hazardous materials and harmful chemical reagents as well as the compliance with safety standards for emission of exhaust gases.

The ministerial order defining the procedures for obtaining the approval of importers of precious metals (gold, silver and platinum) semi-manufactured or manufactured and these precious metal recovery business grants a deadline of 72 hours for the applicants whose application file is incomplete to complete it or face a rejection of their files.

Then, the file will be submitted for approval to the regional tax services for verification and compliance with the specifications and the latter will issue its final endorsement within a period not exceeding 30 days after the filing date of the relevant file.