The Tunisian Startup Act was implemented on Wednesday, and officially became law to be published in the official Gazette (JORT) of the Tunisian Republic.
Minister of Communication Technologies and Digital Economy, Anouar Maarouf, announced the official implementation at the Afric’Up summit.
Earlier this year, in April, Tunisia had passed the ‘Startup Act’ after two years of deliberation. The Act promised a bundle of benefits including exemption of startups from corporate taxes for up to eight years, special customs procedures, exemption from capital gains tax on investments made in startups.
It also offered up to one year of time off from the current jobs (for both private and public sector employees), and salary for up to three founders during the first year of operations.
As per Global Entrepreneurship Index 2018, based upon 14 parameters, Tunisia ranks 6th in the MENA region and 40th worldwide on the health of the ecosystem. It is anticipated that this ecosystem could be the next game changer for the African continent.