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Draft finance law 2017 upholds tax justice, encourages job creation (Prime Ministry)

(TAP) – The draft finance law 2017 “establishes the principle of fair taxation and encourages job creation,” the Prime Ministry said in a document released Monday.

The document states that “the 2017 budget is an expansionary budget,” particularly as its volume has increased by 12% in 2016 to 32.58 billion dinars in 2017 against 29.150 billion dinars in 2016.

According to the same document, the development expenditure will achieve a qualitative leap (of 5,295 MTD in 2016 to 5,800 MTD in 2017).

The revision of tax rates will allow all employees in the public and private sectors as well as those whose monthly income is below 1,400 dinars to benefit from an increase in net wages, which will increase consumption and achieve the principle of tax justice.

A financing line of 250 MTD will be created to encourage the creation of small projects and support entrepreneurship.

A 250 MTD financing line will be mobilised as part of the programme on the first residential unit to cover cash resources during the acquisition of the first home for the middle class.

The law also provides for the creation of 25,000 jobs as part of the “Dignity Contract” under which the state will cover part of the salary of each job created, which is likely to guarantee a net monthly salary of 600 dinars.

To this end, a budget of 130 MD has been set up under the 2017 budget.

Despite this expansionary budget, rising development expenditure and all costly social programmes that will certainly boost growth, general balances would be mastered and the budget deficit lowered from 5.7% in 2016 to 5.4% in 2017.

The debt ratio will be maintained at around 63% (the same as in 2016).

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