Algeria adjusts VAT rates for billet, rebar and scrap

Tuesday, 05 January 2021 17:23:10 (GMT+3)   |   Istanbul
       

The Algerian authorities have started the year with a significant change in the local taxation system for the steel and raw materials segments.

According to sources, the value added tax (VAT) rate for steel billet and rebar has been increased from nine to 19 percent and is now in line with the tax level for wire rod. “This was done to increase the revenue inflow received by the government and to limit importation,” a local source told SteelOrbis. In addition, Algeria has decreased the VAT rate for local steel scrap from 19 to 9 percent. The changes came into force from January 1, 2021.


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