On 13 October 2019, Algeria's Council of Ministers approved the draft Finance Bill for 2020, which has been sent to parliament for consideration and approval. The tax-related measures are largely focused on the promotion of investment and the development of businesses, which includes:
- Introducing tax incentives for start-ups operating in the field of innovation and new technologies, including profit tax and value added tax exemptions during the launch and development phase;
- Creating four types of national economic zones which will serve as start-up incubators and provide financial and tax incentives for other areas of investment; and
- Abolishing the 51%/49% rule for foreign investment in Algeria, particularly for non-strategic sectors.
Further details of the measures will be published once available.