The Financial Market: A Significant Source of Revenue for the State
The financial market is not only important for the state in terms of financing resources, but also from a fiscal perspective. It is a significant source of revenue that recurrently fills the state's coffers. This is particularly true during this time of year, when the country's largest companies distribute dividends to their shareholders.
Revenue from Securities
There are several types of revenue generated from securities, including:
- Capital gains from the sale of shares, which are subject to tax when the sale is made before the end of the year following the year of acquisition or subscription.
- Coupon payments from debt securities, which are subject to a 20% withholding tax.
- Dividends distributed to shareholders, which are subject to a 10% withholding tax for profits made after 2013.
The taxable capital gain is equal to the difference between the sale price of the securities and their acquisition cost, minus any losses recorded during the same year and a deduction of 10,000 TND.
Revenue from Mobile Capital
Revenue from mobile capital includes:
- Interest on loans
- Interest and income from deposits
- Interest and compensation from guarantees
- Products from current accounts
For individuals who do not keep accounting records, these sums are subject to income tax according to the tax rate applicable to the year in which they are effectively received. For companies and individuals who keep accounting records, these revenues are taken into account when determining the taxable result of the beneficiaries for the year in which they are acquired. The withholding tax rate is 20% and is considered an advance on the tax due.
Forecast for 2025
For 2025, the finance law predicts a revenue of 1,167 million TND from these sources for individuals and 78 million TND for companies. This represents a total revenue of 1,245 million TND, or 2.5% of the state's total revenue. As the market develops and companies generate more profits, the state's revenue increases. A thriving financial market can only benefit the state.
