According to an announcement from the Algerian tax authority, the draft Finance Bill for 2017 was adopted by National People's Congress (lower house of parliament) on 22 November 2016. The main change introduced in the bill is an increase in the standard value added tax (VAT) rate from 17% to 19%, and an increase in the reduced VAT rate from 7% to 9%. The law also adjusts various fees and consumption/excise taxes, etc. The Finance Bill must now be approved by the Council of the Nation (upper house).