Page 7 - Profmark Africa Overview 2024

Algeria (GMT +1)

General:
▪ Capital City: Algiers
▪ Official Language: Arabic and Berber
▪ Currency: Algerian Dinar (DZD)
▪ Main Exports: Petroleum, natural gas, petroleum products
▪ Surface Area: 2 381.7 sq. km (thousands)
▪ Population: 47 million (2024,est)
Key Economic Indicators:
▪ GDP: $239.89 billion (2023) / GDP Growth Rate: 4.1% (2023)
▪ CPI Inflation Rate: 9.3% (2023)
▪ Sovereign Credit Rating: Currently no rating
▪ Indicator of Economic Freedom Score: 43.9/100
Exchange Controls:
▪ Exist
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Worldwide income
▪ Non-residents: Algerian-source income
Tax Rates:
▪ Individuals: Progressive rates to 35% [the first DZD 240,000 of taxable income
- 0%]
▪ Companies: Varying rates apply
▪ Inheritance and Donations Taxes: Exist
▪ VAT: 19%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Central Bank of Algeria http://www.bank-of-algeria.dz
▪ ALGEX https://www.algex.dz
▪ Ministry of Finance http://www.mf.gov.dz
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