In a late-night session on Thursday, the Assembly of People’s Representatives gave final approval to the contentious 2026 Finance Bill. The comprehensive legislation passed with 89 votes in favour, 23 against, and 12 abstentions.
The vote culminated a day of debate, dominated by the reintroduction and adoption of a key measure: a new “wealth tax” on high-value personal assets. Article 50, which establishes the tax, was pushed through by Finance Minister Michket Slama Khaldi during an article-by-article review, despite having been previously rejected by the Finance and Budget Committee.
The article passed with 72 votes in favour, 14 against, and 16 abstentions, signaling a significant political victory for the government’s tax reform agenda.
The Details of the New Wealth Tax
The revived article, part of a section dedicated to tax reform and digitalisation, introduces an annual levy on the assets of individuals as of January 1 each year. The tax includes assets held by minor children under their care.
Key provisions include:
- Rates: A 0.5% tax on total assets valued between 3 and 5 million Tunisian dinars, rising to 1% for assets exceeding 5 million dinars.
- Scope: The tax applies to real estate and movable property located in Tunisia for all taxpayers. For Tunisian residents, it also extends to assets held abroad.
- Major Exemptions: The primary family residence, essential household furniture, property used for professional purposes, business operating assets, and personal vehicles with an engine size of 12 fiscal horsepower or less are excluded from the taxable base.
The measure formally abolishes related provisions from the 2023 Finance Law. The taxable value of assets will be calculated after deducting certain secured debts, though collateral granted to companies is excluded.
The adoption of Article 50 marks a pivotal shift in Tunisia’s tax policy, directly targeting capital and wealth in an effort to increase state revenue and address economic disparities.
TunisianMonitorOnline (NejiMed)
