|Tunisia Published Finance Law 2013|
The changes apply as of 1 January 2013
The Finance Law 2013 was published in the Official Gazette No. 1 for 2013 dated 1 January 2013.
Some of the changes apply to direct taxes. Particularly, 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.
Also it was provided, that 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.
The opinions expressed do not constitute investment advice and specialist advice should be sought about your specific circumstances.
Published on our website on January 31, 2013