The international law firm Ben Abderrahmane & Partners works in English, French, German, and Arabic.

Contact (switchboard)

> Tél.: + 33 (0)142892247

> Fax.: + 33 (0)142891804

> E-mail: ba@benlawyers.com

Home > Current events > Investment > Investment in Algeria > Exemption for the Algerian Supplementary Financial Law for 2009

Exemption for the supplementary financial law for 2009


1.         instruction of the Algerian Minister for Finance and Trade of  August 12, 2009

The Minister of Finance and Trade Minister clarified in an official note dated 12 August 2009, Articles 58 and Article 66 of the Amending Act for the financial law of 2009 (Loi de finances complémentaire, LFC). 

  Article 58: The requirement of 30% Algerian participation for Algerian import companies applies to companies, which raw materials or other unprocessed goods for resale in Algeria is not retro active. The Algerian participation requirement applies only to companies created after the entry into force of the Financial law for 2009,  on July 28, 2009. 
 
Article 66: The obligation of the manager to participate personally to the import formalities (customs and banking formalities) is virtually abolished. The importing company can designate a representative of the General Manager to carry out all the import procedures.

2. Statement of the Minister of Finance in an interview with the daily newspaper "El Watan" of 17 August

Obligation to open a letter of credit  

According to the Algerian Finance Minister in an interview with the daily El Watan, 17 August:  imported goods with a value of less than 100,000 dinars and spare parts imported within the framework of guarantee obligations are not affected by the new regulation. They do not need to be domiciliated in a bank and may continue to be paid via SWIFT transfer.   

Current events on Exemption for the Algerian Supplementary Financial Law for 2009 :