The government considers imposing a short-term tax of 4% on banks and financial institutions, levied on their profits used as a basis for calculating corporation tax, as part of its efforts to support budgetary balances for the years 2024 and 2025. This levy will apply to profits declared by the due date in 2024 and 2025, with a minimum of TND 10 thousand per year, according to Article 49 of the draft 2024 Finance Law (DFL 2024). This measure will apply to resident and non-resident banks and institutions, payment and leasing institutions, Islamic finance institutions, credit management institutions, insurance and reinsurance companies, including mutual insurance companies, Takaful insurance and reinsurance, and mutual funds. The levy in question must be repaid within the same timeframe and in accordance with the same corporate tax collection procedures and may not be deducted from the corporate tax base. Infringements of the levy will be monitored and prosecuted under the same conditions as corporation tax.
Source: Agence Tunis Afrique Presse