Member of the Assembly of People’s Representatives (ARP) Maher Ketari stated that Draft Law No. 058/2025, concerning the regularization of foreign exchange violations, has been prepared for some time, pending the publication of the new Foreign Exchange Code.
Speaking on Express FM on Friday, May 30, he noted that it would have been preferable to implement this regularization alongside the code’s release.
However, after a two-year delay, the decision was made to submit the proposal. Ketari explained that the circulation of currency outside official channels harms Tunisia’s economy, a problem that has worsened. This prompted the draft law’s introduction.
He emphasized that violators face imprisonment and stressed Tunisia’s urgent need for foreign currency in the public treasury and central bank.
The law could boost the economy and foster trust for those repatriating assets from abroad, provided they pay a 5–10% tax and follow procedures to transfer and utilize the funds.
Ketari added that the proposal was submitted alongside other MPs and that another bill on governance of public enterprises and institutions is being drafted, requiring a new governance vision.
Ketari clarified that transferred funds must come from legal and legitimate sources, with a sworn declaration to avoid future issues with the Financial Action Task Force (FATF).
The measure targets those who failed to declare overseas assets, repatriate foreign income, or hold foreign cash in Tunisia.
The draft law allows regularization via sworn declaration, income repatriation, and payment of a sum equivalent to the assets deposited in bank accounts.
It also permits opening foreign-currency accounts in Tunisia for transfers, subject to a 7% tax rate.
Exemptions
If converted to Tunisian dinars, the rate drops to 4% to incentivize retaining foreign currency domestically. The seven-article proposal simplifies procedures to encourage compliance and trust.
The measure is temporary, offering a one-year amnesty for regularization starting from the law’s official publication date.
The MP noted that the law exempts regularized individuals from customs or tax prosecution, a key condition.
One article stipulates beneficiaries avoid exchange violation fines, taxes, penalties, and administrative or judicial proceedings for amounts transferred through authorized intermediaries. Ketari stressed building trust between legislative/executive authorities and citizens seeking regularization.
The proposal’s text is available on the ARP’s website. All proposals will undergo committee review, debates, hearings, and potential amendments.
Ketari clarified that the draft is not on a fast-tracked procedure and will be examined article by article.
An academic session with experts will also be held regarding a related proposal on sports structures.
