Algeria to approve financial draft law

Algerian President Abdelaziz Bouteflika is expected to hold a meeting with ministers to approve the 2015’s financial draft law after six cabinet meetings.

The government will impose taxes on companies’ income as follows: 19 percent for goods production activities, 23 percent for construction, public works and irrigation activities as well as touristic actions except travel agencies and 26 percent for other activities.

Taxes on new cars selling transactions will be raised to 8-25 million centimes for touristic cars with gas engine and 12-40 million centimes for touristic cars with Diesel engine.

As for transport car transactions, taxes will reach 20-35 million centimes depending on the engine strength and gas nature.

Article 67 of the draft law stipulates an annual housing tax estimated at 300-1,200 DZ. Houses located in Algiers, Annaba, Constantine and Oran’s municipalities are exempted.