The main changes introduced by the Finance Act for 2012, provided for by Act No. 7/2011 of 31 December 2011:
Personal income tax (IRPP) and corporate tax (IS)
- Extension of the tax amnesty
- Supporting businesses damaged by the post-revolution events
- Facilitating the means of collecting tax applied to non-residents
- Introducing an income-tax advance and a corporate-tax advance, without prior audit
VAT, customs duties and local tax (TCL)
- Reducing the VAT rate for the public-transport sector
- Adapting the VAT applied to associations, in line with Decree No. 88 of 24 September 2011
- Reducing customs duties due on imports
Tax rights and procedures, and incentives
- Encouraging small and medium-sized enterprises
- Taxing certain capital gains from the sale of shares
Miscellaneous measures
- Suspension of tax-audit deadlines
- Introducing a specific tax regime for Islamic finance
- Compensating citizens who pawned their jewellery
- Cleaning up public finances
