Algeria Prime Minister Proposes 2022 Finance Bill

The Algerian Prime Minister’s Office Oct. 24 announced a proposal for the 2022 Finance Bill. The proposed budget includes measures to: 1) introduce progressive global income tax (IRG) rates between 23 and 35 percent; 2) provide a 50 percent tax reduction on specified residential property sales; 3) provide IRG exemptions on annual incomes of up to 30,000 Algerian dinars (US$218); 4) establish Dec. 31, 2022, as the tax amnesty deadline; 5) exempt start-ups from the corporate income tax (IBS), property tax, professional activity tax, and IRG for three years; 6) extend the 9 percent reduced VAT rate for specific goods ...