Finance law 2014
The main innovations introduced by the Finance Law 2014 for management provided by Law No. 54/2013 of 30 December 2013
REGARDING PERSONAL INCOME TAX AND CORPORATE TAX
- Reduction of the tax rate on corporate profits and taxation of income and profits from exports
- Taxation of dividends distributed to individuals with a withholding tax
- Revision of the minimum tax
- Easing the tax burden on limited incomes and increasing deductions for disabled children and students
- Streamlining cash transactions
- Facilitation of the application of withholding tax and improvement of its collection
- Increase of the taxable net profit for non-commercial activities for flat-rate taxpayers from 70% to 80% of their gross revenues
- End of the exemption for royalties paid by wholly exporting companies to non-residents not established in Tunisia
- Encouragement of long-term savings in life insurance
- Streamlining the deduction of expenses
- Increase of the withholding tax rate on amounts paid to residents in tax havens
- Streamlining the benefits of the flat-rate regime
- Expansion of the scope of the capital gains tax on real estate
MEASURES REGARDING VAT, CUSTOMS DUTIES, AND TCL
- Exemption from VAT for companies operating in the cultural sector
- Reduction of the VAT rate from 18% to 6% on paper used for printing magazines
- Deduction of VAT used for regularizing turnover
- Imposition of an administrative fine in cases of sales made without a validated purchase order
- Removal of the suspension of VAT on services provided by private clinics and polyclinics as well as public medical institutions for non-residents
- Expansion of the scope of the tax on industrial, commercial, or professional establishments to include all revenues generated
- Streamlining preferential regimes for acquisitions by real estate developers
MEASURES REGARDING TAX RIGHTS AND PROCEDURES AND INCENTIVES
- Allowing tax services access to programs, applications, and computer systems
- Incentives for the creation of SMEs
- Continuation of support for companies located in priority regional development areas
- Measures to promote employment
- Application of the penalty in cases of understatement of invoiced amounts, resulting in an increase of those amounts
- Expansion of the scope of official tax assessment decisions
MISCELLANEOUS MEASURES
- Reinforcement of the resources of the compensation fund (SUSPENDED MEASURE)
- Introduction of a tax on real estate properties
- Increase in the tax on hazardous businesses
- Establishment of the tax regime for Islamic Sukuk