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Tunisia: tax revenues increase 16%

Tax revenues increased by 16.1% during the first 5 months of 2014 compared to the same period of 2013, reaching 7,613 million Tunisian dinars (MTD) against 6,558.8 MTD, according to indicators of the Ministry of Economy and Finance obtained by TAP agency.

The supplementary Budget Law (CFL), which entered into force on August 28, plans the mobilization of 18,897 MTD in tax revenues in 2014, up 7.8% from last year.

The total tax revenues collected through May 2014 come from the onshore tax system to the tune of 5,804.6 MTD and the offshore system with 1,808.6 MTD.

As for direct taxes (excluding oil), they reached 3,431.4 dinars against 4181.8 for indirect taxes.

Direct taxes are divided between 1714.5 MTD from taxes on income and 1,716.9 MTD from corporate income tax with respective increases of 11.5% and 41.1%.

Taxes on income reached 1,714.5 MTD up 9.6% compared to the same period last year.

These taxes are expected to further increase in the coming period with the entry into force of the measure on deduction from wages and pensions in the month of September 2014.

This measure, which is part of a cyclical and exceptional contribution to the state budget, will mobilize 320 million dinars to the state budget.

Regarding the revenues from the tax on the value added, they reached 2080.5 MTD at the end of the first 5 months of this year, against 1800.4 MTD last year.

The tax measures in the supplementary budget law are expected to generate tax resources of about 740 MTD for the benefit of the state.

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