“Wealth tax” on every Algerian who has 10 billion

The finance committee at the People’s National Assembly (APN) made a new change to the finance draft law 2014 about taxes on wealth. It determined minimal value of taxable wealth to 10 billion centimes.

A debate took place on Wednesday at the committee about changes on the finance draft law. The tax on wealth suggestion was rejected by RND and FLN’s deputies as people prefer not to deposit their money in banks and to store it at home.

The finance minister Karim Djoudi said the measure should be in conformity with legal procedures.

The committee’s members also suggested to forbid importing all the foreign products which are not in conformity with safety standards.

The committee rejected a suggestion made by the Green Alliance to ban the tax on equipments granted to young people. The finance minister said he is ready to support efforts to further national production.