Algerian government starts controlling foreign companies working on its territory

Most Algerian taxes investigators and commissioners of the taxation’s general directorate, begun their activity after they received orders from the Ministry of finance, to proceed the process of controlling all the foreign companies which are working in Algeria, and controlling their funds’ transfers abroad.

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• Algerian government began the process of the foreign companies’ huge controlling operation in Algeria, after the appointment of experts to conduct a thorough survey of foreign direct investment, which was recorded at the National Agency for the development of investments in Algeria, aiming at reconsidering the facilities and privileges that were granted under the process of investment.
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• Algerian ministry of finance initiated its works through the General Directorate of Taxation, which summoned its experts to conduct thorough investigations in accounts, to know if these companies are not violating the rules of investment and taxation, in addition to the money transfers abroad, thus executing the Algerian President’s orders, who criticized strongly the foreign investors, who used facilities that were granted by the Algerian government to transfer huge amounts of money abroad.
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• Algerian Minister of Industry and Investment Promotion, Abdelhamid Tammar, revealed that Algeria received foreign investors’ requests amounted to 13.53 billion $ between 2001 and 2007, where the Arab Investors’ shares reached 60%, which is a lower level than the benefits and profits that were transferred by the foreign companies towards abroad during the same period, the Arab investments reached on over seven years 8.
• 18 billion $ compared with 5.4 billion $ of non-Arab investments.
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