The procedure includes built and old unbuilt properties - adopting 40 percent of the sale price when it is difficult to determine the acquisition price. The tax authorities have established a new method for calculating the capital gain resulting from the sale of built and unbuilt properties subject to the overall income tax (IRG), in cases where it is difficult to know the original price of the property at acquisition or the value of its construction. This procedure comes to facilitate the calculation of taxes on old properties or those resulting from the division of family ownership or undocumented transfers, or when the property price does not appear in official documents such as property registers. According to the new instruction, 40 percent of the sale price is adopted as an estimated value...
Algeria - The process of expanding the powers of public administration representatives at the one-stop shops of the Algerian Investment Promotion Agency continues, through the delegation of State Property Administration representatives to prepare and sign lease contracts for economic land, as part of simplifying administrative procedures and accelerating the realization of investment projects.
Algeria - The General Directorate of Taxes announced today, Sunday, in a statement, the extension of the deadlines for subscribing and submitting a number of tax declarations for taxpayers subject to the real profit system and the single flat-rate tax system, in order to enable them to meet their tax obligations under the best conditions.
Verification of sanctions lists and individuals and terrorist entities within a mandatory 24-hour passage through banking channels for all real estate transactions, allocating more than 20 percent of the chamber's budget to enhance oversight, inspecting all notary offices nationwide in four oversight rounds. Abdel Salam Boujmaline, Vice President of the National Chamber of Notaries, reveals in an exclusive interview with “Echorouk” the behind-the-scenes of the battle Algeria fought to exit the gray list of the Financial Action Task Force “GAFI”, and the role notaries played in achieving this accomplishment, confirming that this gain paves the way for removing Algeria from the European Union's blacklist, which would enhance investor confidence and facilitate transactions.
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