Cars' Brands, Properties' Number to Determine Wealthy People in Algeria

General Directorate of Taxation launched an inventory on rich people in Algeria, and compel them to pay property or wealth tax.

“Officials in charge of the public treasury are still unconvinced of this procedure, by virtue of that it will not generate great amounts”, General Manager, Abderrahmane Raouia, said at Al Moudjahid newspaper’s forum, on Monday.

“Census will include cars and real estates that are owned by wealthy people, while I expect the collection of non-oil taxation will help the state treasury during 2016, with more than 3.000 billion ZDZ (300,000 billion centimes).”

“Collection of non-oil taxation contributed to pumping 3,050 billion ZDZ in the state treasury, during 2015, at a time when it pumped 2,600 billion ZDZ in 2014, and is expected to bring more than 3,000 billion ZDZ this year. Rich people must pay more, which leads to a new count of their number. Tax on the wages of Algerians alone, will pump 500 billion ZDZ, which refutes the argument that Algerians do not pay taxes.”

“Tax evasion volume cannot be determined despite the presence of clear evasion among a large number of Algerians, at the time, the new measures that were initiated by government, which includes the voluntary tax declaration, will restore confidence and pump large amounts of money in banks. Process will be extended to the end of next Dec. 31, and then we will reveal on the figures of tax collections. Legal penalties would be applied against tax evaders like fines and imprisonment. I reassure people who are afraid of reaching out to our services, that they will be exempted from all commitments about determining the source of funds.”