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August 3, 2022 | 4 years ago

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The Ministry of Agriculture recalls the tax incentives contained in the 2022 Finance Act

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The 2022 Finance Act has provided for a range of measures, including tax relief to support economic activity and the promotion of investment and domestic production in the agricultural sector, the statement said.

These provisions relate to the exemption from VAT on feed for locally produced livestock and poultry (Article 90), the extension of the permanent exemption from general income tax (agricultural income) to the incomes of small farms with an area of 6 hectares or less for farms in the South and the Highlands and 2 hectares for farms in other regions (Article 14).

In addition, income from agricultural and livestock activities on newly developed land is exempt from comprehensive income tax for a period of 10 years from the date of allocation and in mountain areas from the start of their activities.

The granting of a 60% tax rebate on net taxable income for livestock activities is also one of the main tax incentives contained in the 2022 Finance Act.

 


August 3, 2022 | algeria-logo

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