Algerian Government Approves 2016 Budget Measures

The Algerian Cabinet of Ministers has reportedly approved draft budget measures for 2016. The main measures include:

• Mining companies will subject to the 23% reduced corporate income tax rate that was introduced along with an increased standard rate of 26% in the Additional Finance Law 2015 approved in July ({News-2015-07-29/A/6- previous coverage});
• The deduction of R&D expenses, which is limited to 10% of taxable profits with a cap of DZD 100 million, will also require the submission o…