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Algeria Corporate - Significant developments

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The Finance Law for 2018 was introduced in a complex economic context, marked by sluggish economic growth, strong tensions over the state’s budget, as well as volatility of oil and ordinary taxation revenues. The government’s main goal is balancing the budget by increasing local tax resources and limiting importation and currency devaluation. The main new tax provisions are as follows:

  • Reform the tax preferential regime for export operations: This measure provides for a corporate income tax (CIT) exoneration of income resulting from transactions generating foreign currency revenues in particular export transactions of goods and services. However, it excludes from the above exoneration maritime, aviation, and inland transportation services, banks, and reinsurance companies.
  • Higher taxation of dividends distributed to resident individuals: Article 5 of the Finance Law for 2018 provides for an increase of the withholding tax (WHT) rate applicable to dividends distributed to resident natural persons. The WHT rate levied for personal income tax (PIT) purposes, will be increased from 10% to 15%.
  • Adjustment of the tax regime for capital gains on real estate disposals: As a reminder, the Finance Law for 2017 reinstated the taxation of capital gains on the sale of real estate, at a rate of 5%. However, the legislature exempted capital gains realised on properties held for more than ten years. In this context, article 3 of the Finance Law of 2018 has limited the above-mentioned exemption to the capital gains generated on the disposal of collective dwellings constituting the sole property and the main dwelling of the transferor, and which must have been held for more than ten years.
  • Directorate of Large Companies (Direction des Grandes Entreprises or DGE) eligibility: Article 55 of the Finance Law of 2018 provides for an amendment of the criteria of eligibility to the DGE. In this context, the new criteria of eligibility to this tax administration were set as follows: companies or groups of companies operating in the hydrocarbon sector, and which are governed by the legislation relating to hydrocarbons; and foreign companies operating temporarily in Algeria in a contractual framework, and which are followed under the real profits regime, when the amount of the contract(s) is equal to or higher than 1 billion Algerian dinars (DZD).
  • The concept of abuse of law in the Algerian taxation regime: Article 41 of the Finance Law of 2018 introduced an important measure relating to the concept of abuse of law in the Algerian tax legislation system.

Last Reviewed - 09 November 2018

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