Regulatory Alerts2010-05-30
Decree of May 30, 2010 Establishing the Model for the Commitment and Defining the Practical Rules for Investment Capital Companies to Hold Participations and Exercise Control
The Algerian Minister of Finance issued a decree establishing the mandatory model for investment capital companies to commit to holding participations and exercising control in order to benefit from corporate income tax exemption. The regulation requires companies to submit this commitment, signed by the General Director and Board President, to territorial tax services and the Stock Market Organization and Surveillance Commission. Non-compliance with these conservation obligations results in the repayment of the tax exemption amount, increased by fines and penalties prescribed by current legislation.
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