Decrease of VAT not in cards

The head of taxes administration Wednesday declared that a slight improvement was recorded during the year 2007, since the overall incomes reached 950 billion Algerian Dinars.

The head of taxes administration Wednesday declared that a slight improvement was recorded during the year 2007, since the overall incomes reached 950 billion Algerian Dinars.

He said the income taxes apart from hydrocarbons reached 19 percent of the GDP (Gross Domestic Product) in addition to the various facilities granted by the national agency for the promotion of investments and the national agency for the promotion of youth employment, which reached the sum of 50 billion Algerian Dinars.

M Abderrehamne excluded the possibility of decreasing the VAT from 17 to 10 percent as requested by businessmen and operators since years. He added that the present tax system is out of date and not able to comply with the economic restructuring applied by other countries since two decades.

For their part, the forum of entrepreneurs insisted on the unification of the VAT at 10% which will impact positively on the consumers and encourage investors.