Algeria and UK agree tax treaty

31 May 16

A treaty to end the double taxation of income in the UK and Algeria is to come into effect next year as part of efforts to increase trade between the two countries, a British Treasury minister has confirmed.

Speaking in Algiers last week, Greg Hands announced that the Double Taxation Treaty, which will ensure that tax isn’t charged on the same income in both countries, would come into force in Algeria on the 1 January 2017, and in the UK in April 2017.
This forms an element of a partnership between the countries that is intended to increase the participation of the UK in the Algerian economy. The agreement also covers security co-operation and support for Algeria’s efforts as it increases the use of the English language.

Hands said for too long the UK had not attached enough importance to Algeria.

However, a new investment code, which is being developed by the Algerian government, would play an important role in growing the Algerian economy and British participation in it, said Hands.

“London and Algiers are not very far away from each other – indeed, Algiers is the nearest capital to London, outside Europe,” he added.

“And there are so many sectors in which Algeria and the United Kingdom can work together, for the joint benefit of our businesses and our peoples.”

  • Richard Johnstone

    Richard Johnstone is the senior reporter on Otsubo7 magazine and publicfinance.co.uk. He tweets

     

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