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Algeria

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About

Algeria

Capital
Official languages
Population 
Currency

ISO 4217

Algiers

Arabic and French

42,201,440 (as of July 2020)

Algerian Dinar

DZD

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Economy

Algeria has a diversified economy that is largely driven by its oil and gas sector. According to the World Bank, the country’s GDP in 2019 was $168.3 billion, with a growth rate of 1.7%. The unemployment rate in Algeria is estimated to be around 11.2%, while the inflation rate is estimated to be around 4.2%. The country’s main exports are petroleum, natural gas, and agricultural products. Algeria is also a major importer of food, consumer goods, and machinery. The country’s main trading partners are France, Italy, Spain, and the United States. Algeria has a large budget deficit, which is estimated to be around 8.2% of GDP. The country’s public debt is estimated to be around 60.2% of GDP.

Taxation

Algeria is a country in North Africa with a tax system that includes both corporate and personal taxes. Here is a brief overview of the tax system in Algeria:


Corporate taxation:

- Companies in Algeria are subject to a corporate income tax rate of 26% on their profits.

- Companies are also subject to a 2% tax on the turnover of their business.

- The tax year in Algeria runs from January 1st to December 31st.

- Corporate tax returns must be filed within 120 days following the end of the tax year, and taxes must be paid by the 30th of April of the following year.


Personal taxation:

- Individuals in Algeria are subject to a progressive income tax system, with tax rates ranging from 0% to 35%.

- The tax year for individuals also runs from January 1st to December 31st.

- Personal income tax returns must be filed by March 31st of the following year, and taxes must be paid by the same deadline.


Other taxes:

- Algeria also imposes a value-added tax (VAT) of 19% on most goods and services.

- There are also various social security contributions that are deducted from employee salaries.


It is important to note that tax laws and regulations in Algeria may change, and companies and individuals should seek professional advice to ensure compliance with current tax requirements. Additionally, there may be penalties for late or incorrect filing of tax returns and payments, so it is important to adhere to the tax calendar and deadlines.

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