HPR approves 2019 budget

The Tunisian House of the People’s Representatives (HPR) on Monday approved the 2019 budget which will impose no new taxes on citizens and will cut the tax burden for some sectors, after years of tax hikes that have stoked public anger and sometimes violent protests.

The budget showed a deficit falling to 3.9 % of gross domestic product (GDP) in 2019, from about 5 %  expected this year.

Next year budget expects Tunisia’s economy to improve in 2019 by 3.1 %, up from an estimated 2.6 %  this year.

The government will impose a tax for companies operating in sectors including technology, textiles, engineering and pharmaceuticals to 13.5 %t under next year’s budget.

The 2018 budget raised taxes on cars, alcohol, telephone calls, the internet, hotel accommodation and other items.

Taxes on bank profits were raised to 40 % from 35 %. The government also raised this year by 1 percentage point the value-added tax and imposed a new 1 %  social security tax on employees and companies.

TunisianMonitorOnline

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