President Bouteflika refuses to scale down car imports

The draft finance law for the year 2014, adopted last Sunday by the council of ministers, held under the chairmanship of President AbdellazizBouteflika, doesn’t foresee any new tax burden in various sectors of activity.

This move is aimed at promoting productive investment, ensuring the smooth regulation of imports and upgrading the quality of the public service.

With regard to car imports, the 2014 finance law aims to exonerate all locally-manufactured vehicles, all brands taken together, from the taxes on the transaction of new vehicles, in a bid to implicitly boost the projected production of vehicles in Algeria in partnership with the French car-maker Renault.

This measure is designed to further favourthe flow of investments in Algeria in the industry sector in comparison with imports.

In the same context, the new law of finance is geared to confining the vehicle imports to solely the exclusive realm of locally-based car dealers.

These new regulations are aimed essentially at doing away with the reported anarchical practices now gripping the Algerian automobile market and making it gradually tally with International standards.