November 23, 2022 | 3 days ago

Importation of vehicles under 3 years: up to 80% exemption from customs duties for the hybrid

The 2023 Finance Bill was adopted by MPs on Tuesday afternoon by the National People’s Assembly (NPA). According to NPA Vice-President Allel Bouteldja, out of the 46 draft amendments introduced by the elected representatives, only 11 will be submitted for adoption.

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Speaking on radio channel 3 this morning, Mr. Bouteldja said that "out of the 46 proposed draft amendments, 32 have been accepted by the Bureau and only 11 are maintained after consideration by the committee".

Concerning the import of used vehicles, the Vice-President of the NPA said that the proposed amendment on the import of vehicles under 5 years of age "has been rejected", "as it will have an impact on customs clearance and tax revenues", he argued.

Otherwise, the importation of vehicles under 3 years of age is included in the 2023 FB. In this connection, Mr. Bouteldja said that there had been other amendments concerning the exemptions from customs duties for hybrid vehicles with mixed petrol and electric use. We went up to 80% for vehicles at 1800 cm3 and beyond 50% for other vehicles."

He also cited the authorization to import 7-year-old farm equipment instead of 5 years. "There is the importation of farm equipment. The FB states that agricultural equipment authorized for clearance is equipment with a duration of less than 5 years. And now we are at 7 years, that is to say, the term has been revised upwards to give more opportunities to farmers to acquire this equipment given the prices abroad."

As regard wealth taxes, the Vice-President of the NPA explained that the FB "is just a matter of launching more detailed investigations to get more details on the right targets and the right tax rates".

November 23, 2022 | algeria-logo