Tunisia: Finance Law 2013 publishedJanuary 22, 2013
The Finance Law 2013 was published in the Official Gazette No. 1 for 2013 dated 1 January 2013. The most important changes, which apply as of 1 January 2013 unless otherwise indicated, are summarized below.
- The implementation of the 10% income tax rate on enterprises producing goods or rendering services wholly for export is postponed for one additional year. Accordingly, enterprises created under this regime before 31 December 2013 are entitled to a 10-year period of full exemption on their profits derived from export activities. Enterprises created under the same regime as of 1 January 2014 are subject to a 10% income tax rate on their profits derived from export for an unlimited period of time.
- Small and medium-size enterprises created in 2013 are exempt from income tax for a three-year period. Small and medium-size enterprises are businesses with an annual revenue not exceeding TND300,000 for services and non-commercial activities and TND600,000 for manufacturing and commercial activities.
- General provisions created by banks to cover risks related to current liabilities may be deducted for corporate income tax purposes up to 1% of the overall amount of such liabilities. The amount of the current liabilities must be posted at the balance sheet of the year in respect of which the deduction is claimed.
- The capital gains tax rates on the transfer of immovable properties derived by resident individuals are set as follows:
- 15%, if the properties were held for less than five years
- 10% on inherited properties and on properties held for more than five years.
- Local authorities and state-owned entities are required to withhold 50% of the VAT due on their acquisitions of immovable properties and going concerns when the value of the transaction exceeds TND1,000.
- VAT is suspended on training services for pilots who are not working for airline companies.
- Severance payments, which are exempt from individual income tax, are exempt from the business training tax and the employee housing fund contribution. Both contributions are currently due by the employer on the gross payroll at the rate of 2% and 1%, respectively.
- The rate of the tax on industrial, commercial and professional establishments is reduced from 0.2% to 0.1% for goods, the pricing of which is subject to administrative pre-approval on the condition that the profits margin for such goods is capped at 6% under the applicable laws or regulations.
- Procurement and concession contracts are subject to registration duly at the rate of 0.5%. Previously, a fixed rate of TND20 applied (per page and per copy) and the overall duties were capped at 2% of the contract value.
- Taxpayers carrying on specific activities listed in a yet to be released decree are required to file their tax returns electronically, irrespective of the amount of their revenue. Previously, only taxpayers realizing minimum yearly revenue of TND1 million were required to comply with the e-filing system.
- The registration duties on the incorporation of companies is increased from TND100 to TND150.
- A passenger tax is levied as of 1 October 2013 on airline companies at the rate of TND2.5 per inbound international passenger.
A compensation contribution is introduced for certain taxpayers as follows:
- Individuals are subject to the contribution when their net annual income exceeds TND20,000 (including exempt income). The contribution is levied at the rate of 1% and is capped at TND2,000.
- Hotels are subject as of 1 October 2013 to the contribution at the rate of TND2 per night per person (above 12 years old).
- The compensation contribution is not deductible for income tax purposes.
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