New investment law approved by the Parliament

Algeria introduced a new investment law. The law stipulates tax cuts and steps to reduce redundancy. It states that all imported goods and services intended for investment projects will be exempted from customs duties and value-added tax (VAT). Also, businesses will get a 10-year exemption from tax on property needed for a project, as well as a 3-year tax exemption on company profits once the project starts. Furthermore, infrastructure needed for any investment project will be partially or totally financed by the government. The law was approved by Parliament on 17 July 2016, and is expected to take effect by end of 2016.

• Type:

  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Reuters, Algerian parliament passes new investment law to improve business climate, http://af.reuters.com/article/idAFKCN0ZY0K3, 18 Jul 2016