الإثنين 22 جويلية. 2019 م, الموافق لـ 20 ذو القعدة 1440 هـ آخر تحديث 10:30
الشروق العامة الشروق نيوز بنة تي في
إذاعة الشروق

The government exempted the activities of exploration, production and the transfer of oil and gas through pipelines and refining (oil refineries) and conversion (Petrochemicals), from several taxes in the new hydrocarbons law, which was completed by the Energy Ministry, especially on the import of goods and services for these activities.

In contrast, he asserted the control of purchases from abroad for goods and services that are directed to these activities which are benefiting from tax, fees and customs exemptions.

The new hydrocarbons law, which copy is available to Echorouk, said in its article 230 that upstream activities are exempted from the VAT for goods and services that are involved in these activities (exploration and production).

The law also exempts the hydrocarbons’ upstream activity from taxation on professional activity (TPA), duties, taxes and customs rights on imports of goods, and equipment, materials, and products that are used in the exploration and/or exploitation of hydrocarbon fields.

The government also eliminated the fees for bank settlement that is related to the import of services for upstream activities (exploration and production).

The new hydrocarbons law also provides for the cancellation of any taxes, fees or other drawings that are not mentioned in this heading (upstream activity),that is created for the benefit of the State, local communities and any legal person in the public law.

According to article 231 that is related to the activities of the transport of fuel by pipes, refining and conversion, they were exempted from the value-added tax (VAT) relating to goods and services for these activities, and the exemption of rights, duties and customs’ drawings in the case of import of materials and products that are directed to those activities.

The document explained that the list of goods, equipment, materials, and products that are exempted from imposing duties are mentioned in articles 230 and 231, and how the application of exemptions will be determined through the regulation of the Energy Ministry.

As for the foreign companies, they are required to submit a statement every three months to the National Agency for the Assessment of Fuel Resources “Oil”, which relates to their expenditures for the purchase of original goods and services abroad that are paid directly abroad in convertible hard currency, and imports in hard currency as well.

The Oil Agency annually prepares a detailed report to the Bank of Algeria and the Ministry of Finance concerning the expenditures, imports, and remittances that are made by foreign companies in the framework of the activities that are benefiting from the exemptions, which are detailed in each hydrocarbons’ contract.

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