The 2019 draft budget does not include new taxes on citizens the year to come and will cut the tax burden for some sectors to boost growth, a draft budget revealed.
Besides, the 2019 finance bill pointed out the growth of the Tunisian economy in 2019 by 3.1 %. Estimates showed a jump 2.6 % against 1.9 % last year.
The finance bill indicated that the 2019 budget would be 8% bigger than this year, totalling some 40.6 billion Tunisian dinars ($14.21 billion).
Additionally, the budget deficit is declining to 3.9 % of Gross Domestic Product (GDP) in 2019, from about 5%t expected this year.
The government will halve tax for companies operating in various sectors including technology, textiles, engineering and pharmaceuticals to 13.5 % from 25 p%, the draft showed.
This year’s budget raised taxes on cars, alcohol, telephone calls, the internet, hotel accommodation and other items in an effort to help balance the books.
Taxes on bank profits were raised to 40 % from 35 %t. The government also increased this year by 1% the value-added tax and imposed a new 1% on social security tax on employees and companies.