New Tax on Exceptional Profits Is Now in Place

摘要

The 2005 Hydrocarbon Act,as amended in 2006,is starting to be put into effect.The Algerian Prime Minister,Mr.Abdelaziz Belkhadem,has signed an executive order that lays down the procedure,the conditions of application and the methodology for calculating the new tax on exceptional profits (TEP).This order has just been published in the Official Gazette and outlines in detail how the TEP will be differentially applied to the various types of contract in force.