Finance Law 2020
The main innovations introduced by the Finance Law 2020 for management provided by Law No. 78/2019 of 23 December 2019
In the Matter of Corporate Tax and Personal Income Tax
- Establishment of the tax regime for Takaful insurance (Articles 11 to 22 of the 2020 Finance Law)
- Facilitation of the conditions for granting the flat-rate tax regime for individuals based outside municipal areas (Article 42 of the 2020 Finance Law)
- Clarification of the services in the hydrocarbons sector subject to the 35% corporate tax rate (Article 25 of the 2020 Finance Law)
- Increase in the deduction threshold for dependents (Article 41 of the 2020 Finance Law)
- Revision of the Temporary Social Contribution (Article 39 of the 2020 Finance Law)
- Introduction of high value-added services among activities subject to the 13.5% corporate tax rate (Article 26 of the 2020 Finance Law)
- Generalization of the reduction in the withholding tax rate from 15% to 5% for film activities and copyright (Article 46 of the 2020 Finance Law)
In the Matter of VAT, Customs Duties, and TCL
- Linkage of the granting of tax advantages and suspensive regimes to the settlement of customs debts (Article 35 of the 2020 Finance Law).
- Clarification of the application rules for donations regarding VAT and other taxes, and their harmonization with international conventions (Article 28 of the 2020 Finance Law)
- Postponement of the application of the 19% VAT rate on residential real estate (Article 31 of the 2020 Finance Law)
- Establishment of the submission date for pharmaceuticals to VAT (Article 30 of the 2020 Finance Law)
- Extension of the increase in customs duties on the importation of Turkish products for an additional 2 years (Article 52 of the 2020 Finance Law)
- Introduction of a fee on online sales in Tunisia by non-resident companies (Article 27 of the 2020 Finance Law)
- Adjustment of late payment interest in customs matters to align with rates applied by the public accounting code (Article 51 of the 2020 Finance Law)
In the Matter of Registration and Stamp DutyEn Matière de Droit d'enregistement et de timbre
- Reduction of the tax burden related to registration fees on acquisitions by housing offices for public agents (Article 45 of the 2020 Finance Law)
- Adoption of electronic means for the registration of writings and contracts and for applicable stamp duties (Article 23 of the 2020 Finance Law).
In the Matter of Encouragement for Investment
- Suspension of VAT on equipment intended for the agricultural sector (Article 36 of the 2020 Finance Law)
- Extension of incentives for companies to list their shares on the stock market (Articles 37 and 38 of the 2020 Finance Law).
- Clarification of the scope of Article 15 of Law 2019-47 of 29 May 2019, relating to the improvement of the investment climate (Article 29 of the 2020 Finance Law)
Other Provisions
- Revision of the amount required to suspend tax assessment decisions (Article 32 of the 2020 Finance Law)
- Qualification of tax services for the adoption of results from on-site inspections during preliminary audits (Article 33 of the 2020 Finance Law)
- Extension of the statute of limitations for tax declarations to a minimum (Article 34 of the 2020 Finance Law)
- Adoption of a legal framework for the exchange of information and correspondence between tax services and taxpayers through electronic means (Article 24 of the 2020 Finance Law)
- Measures in favor of associations for persons with disabilities and those without family support (Article 43 of the 2020 Finance Law)
- Measures in favor of the olive oil sector (Articles 55 and 56 of the 2020 Finance Law)