Tunisian finance law for 2016
The Tunisian finance law for 2016 was approved, with 142 votes, 7 abstentions and no objection.
The House of People’s Representative (HPR) passed a new article of the draft finance law for 2016 which provides for the removal of debts of less than 3,000 dinars owed by small farmers to development associations.
A new article was also adopted to be added to article 24 of the law No. 54 of the complementary finance law of 2014 on new investments as part of the investment code to be declared in 2016 and 2017 and start activity before late January 2017.
Finance Minister Slim Chaker Tuesday told TAP the Tunisian finance law 2016 sets the growth target at 2.5% and aims to maintain a good debt ratio.
This piece of legislation fixes the reference price of the oil barrel at $60 and the average exchange rate of the dinar to the dollar at 1.970 TD, he elaborated. Chaker indicated at a debate held by the Tunisian-British, Tunisian-French, Tunisian-German, Tunisian-Italian and Tunisian-Swiss chambers of commerce on the “Finance Bill 2016: Impact on Investment in Tunisia.”
The 2016 finance law sets forth a host of specific measures geared towards the Tunisian Customs, the purpose being to relax procedures for businesses operating in Tunisia and cut customs duties, he highlighted. These measures notably include the suppression of customs on imported equipment and raw materials for small and medium-sized firms; additional measures target smuggling and parallel market.
Some articles of 2016 finance law are unconstitutional (Authority of Control of Constitutionality of Draft laws)
The Authority of the Control of the Constitutionality of Draft laws accepted, on Wednesday 23 December 2015, appeals on content and form, of the unconstitutionality of the articles 46, 59, 60, 64 and 85 of the draft finance law for 2016 and decided to transfer them to the President of the Republic for examination in the House of the People’s Representatives (HPR).
The Authority indicates in a statement, that this decision was taken after its meeting, on Tuesday, to decide on the appeals, submitted on December 15, for unconstitutionality of the draft finance law for 2016.
Thirty one deputies of the opposition of the parliamentary group of the Popular Front, the Congress for the Republic, the Republican Party and the Democratic Current had submitted, last December 15, an appeal against the articles 46, 47, 59, 60, 61, 64, 74, 75, 82 and 85 of the draft finance law for 2016.
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