Algeria Enacts Supplementary Finance Act for 2020

Algeria has enacted the Supplementary Finance Act for 2020, which was published in the Official Gazette on 4 June 2020. The measures of the Act include:

• An exemption from individual global income tax (IRG) is provided for wages up to DZD 30,000 per month as from 1 June 2020;
• The withholding tax on foreign companies operating under contracts for the provision of services in Algeria is increased from 24% to 30%;
• An exemption from customs taxes and Value Added Tax (VAT) is provided for a perio…