Draft finance law 2024 proposes series of measures to restore balance in public finance

The draft finance bill 2024 is part of the ongoing large-scale reform programme intended to restore balance in public finance.

The draft law set a series of targets, mainly putting in place a system which fosters tax fairness and tackles fiscal evasion, upholds the social role of the State and supports the sector of agriculture, fisheries and water resources. This in addition to encouraging the financial inclusion of small and medium-sized enterprises as well as saving and invesment and supporting green economy and sustainable development.

The draft bill provides for 43 fiscal and financial measures, mainly a TND 20 million funding line to support economic empowerment projects geared towards poor and low-income groups.

Two lines of credit (TND 10 milion each) are also provided for in a bid to make repayable mid and long-term loans available for small and medium-sized enterprises.

The government proposes three measures in the agricultural sector, particularly the reduction in taxation on cattle feed.

A c
arbon tax is proposed through higher taxes on flight and boat tickets and energy products, with a view to boosting green economy and sustainable development and securing additional tax resources for the Energy Transition Fund (French: FTE).

Cutting VAT on electric cars (-19%) starting January and the road taxe (-50%) as well as fees for motor vehicle registration is likewise among proposed measures.

Meanwhile, the draft law provides for increasing customs duties on unpackaged olive oil and introducing a 4% export taxe on lampante virgin olive oil and olive pomace .

Source: Agence Tunis Afrique Presse