Algerian-UK agreed to end double taxation

An Algerian-UK treaty to end double taxation has been announced to come into effect by next year, according to a British Treasury Minister.

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 move aims at increasing 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.

The same official has hailed the Algerian new investment code, which is being developed, saying it would pave way to play an important role in growing the Algerian economy and British participation in it.

“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.”