Tunisia’s Budget for 2017 was presented by Prime Minister Youssef Chahed in December 2016. The new Finance Law 2017 (Law n° 2016-78) was approved and includes several key measures.

Highlights of the Budget

  • The forecast growth of the budget is at 2.5% and the budget deficit narrowing slightly to 5.4%.
  • Income tax rates have been revised for the first time since 1989 to ease tax burdens on the lower income group.
  • 5 percent increase in company taxes has been enacted.
  • Public sector hiring outside of the security forces has been frozen.
  • The new tax law will allow the tax administration to better trace and collect information about taxpayers to ensure compliance with the law.
  • Tunisia aims at increasing transparency in the country’s banking system. The Central Bank of Tunisia, banks, financial institutions, investment companies, stock brokers, and the National Post Office must inform the tax administration of new accounts opened by taxpayers and copies of bank statements within twenty days of a request to do so.

Important Payroll changes:

  • The new tax rates, effective 01 January 2017 are as follows:

  • Professional Fees: The 2017 Finance Law has capped the 10% deduction for professional fees at 2,000 DT per year.


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Zimbabwe’s Minister of Finance, the honourable Patrick Chinamasa, presented the 2017 National Budget in December 2016.

Highlights of the budget speech summarized:

  • GDP growth is projected at 1.7%, from 0.6% estimated in 2016.
  • Budget deficit is projected at 2.7% of GDP in 2017.

Proposed changes:

  • Introduction of tax incentives for companies operating in Special Economic Zones.
  • Exemption of 15% withholding non-resident tax on fees, in respect of fees already subjected to 20% withholding taxes as non-executive director’s fees.

The following remains the same:

  • The tax-free band remains at US$3 600 per annum or US$300 per month.
  • The upper-income tax bands remain at US$240 000 per annum or US$20 000 per month.
  • The maximum tax-free bonus remains at US$1 000.
  • The tax-free exchange in respect of a severance package will be the higher of US$10 000 or 1/3 of the severance package, up to a maximum of 1/3 of an amount of US$60 000.
  • Pension income paid from a Pension Fund or Consolidated Revenue Fund to elderly taxpayers who are 55 years old or more, is exempt from tax.
  • Fringe Benefits are taxed in the hands of the employee based on the cost to the employer.

Contact our legislation team at if you require any additional information.

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