Algerian cabinet to endorse new laws to regulate the stock market

The cabinet will today discuss a series of important issues before leaving for vacation as from next Sunday. The ministers are due to endorse important decisions for the benefit of the economic operators and citizens.

• One of the decisions consists in levying taxes on the imported wheat and retrieving unused stores since a year even if they belong to private owners. The new laws are designed to boost the treasury’s incomes in addition to reducing the domestic and foreign debts.
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• A tax on imported wheat to encourage domestic product
• The Algerian authorities have decided to limit durum wheat imports through and force the mills’ owners to exploit the locally produced wheat. The economic operators will be forced to pay an additional tax for the imported wheat at a level of 2500 Algerian Dinars for a quintal.
• It should be noted that the Algerian Office of Corns found tremendous difficulties last march to commercialize 6000 quintals of durum wheat after the slump of its price on the international market.
• The prices fluctuated last year as they skyrocketed in the fall of 2009 to plummet after few months forcing the Algerian mills’ owners turn to private producers causing a lot of problems to them which led to the intervention of the trade ministry which forbade the import of this product.
• The cabinet is about to endorse a law dealing with writing off the VAT on books and printing products. This decision will make books more affordable for the Algerian reader in the future.