The Tunisian Ministry of Finance Jan. 6 posted online Law No. 119, the 2022 Finance Act. The law includes measures: 1) providing rules for companies to re-evaluate their properties for corporate income tax deductions; 2) reducing tax by 50 percent for electric vehicles; 3) providing nonresidents the option to pay taxes in foreign currencies; 4) allowing a corporate income tax exemption for companies earning income from movable property; 5) allowing VAT deductions to retailers of alcoholic beverages; 6) requiring taxpayers to settle their tax debts by April 30; and 7) setting penalties for noncompliance. The law entered into force Jan. ...
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