Tunisia

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About

Tunisia

Capital
Official languages
Population
Currency

ISO 4217

Tunis

Arabic and French

11,444,344 (as of July 2020)

Tunisian Dinar

TND

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Economy

"Tunisia has seen a steady improvement in its economy over the past few years. According to the World Bank, Tunisia’s GDP grew by 2.8% in 2019, up from 2.3% in 2018. This growth was driven by increased investment in the manufacturing and services sectors, as well as a strong performance in the tourism industry. Inflation has also been kept in check, with the inflation rate standing at 4.2% in 2019.

The unemployment rate in Tunisia has also seen a steady decline, dropping from 15.3% in 2018 to 14.2% in 2019. This is largely due to the government’s efforts to create more jobs through public investment and the implementation of labor market reforms.

Tunisia’s external sector has also seen a positive trend, with exports increasing by 8.2% in 2019. This was driven by increased demand for Tunisian products in the European Union and other markets. The country’s current account balance also improved, with a surplus of $1.2 billion in 2019.

Overall, Tunisia’s economy has seen a positive trend in recent years, with steady growth and improved macroeconomic indicators. The government’s efforts to create jobs and attract foreign investment have been key drivers of this growth."

Taxation

Corporate Taxation in Tunisia:

- Corporate tax rate is 25%

- Capital gains are taxed as ordinary income

- There are tax incentives available for certain types of investment, such as those related to research and development, environmental protection, and job creation

Personal Taxation in Tunisia:

- Personal income tax rates range from 0% to 35%, depending on income level

- Capital gains are taxed as ordinary income

Tax Payment and Calendar:

- The tax year in Tunisia runs from January 1 to December 31.

- The deadline for submitting tax returns and paying taxes is March 31 of the following year for individuals and April 30 for companies.

- Corporate income tax payments are made in two installments during the year, with the first installment due by June 20 and the second installment due by December 20.

- Individuals are required to make monthly tax payments on their income, with the final payment due on March 31 of the following year.

It is worth noting that Tunisia's tax system can be complex and subject to frequent changes, and compliance can be challenging for businesses and individuals. It is recommended to consult with a tax professional familiar with the specific circumstances in Tunisia for personalized advice on tax matters.

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