Regulatory Alerts2010-06-07
Law No. 2010-29 of June 7, 2010, on Encouraging Companies to List Their Shares on the Stock Exchange
The Tunisian Parliament enacted Law No. 2010-29 to incentivize companies to list their ordinary shares on the Tunis Stock Exchange by reducing their corporate tax rate from the standard level to 20%, or 15% for companies taxed at 25%, provided a public float of at least 30% is maintained for five years. The legislation mandates that delisting during the incentive period triggers forfeiture of the tax benefit and payment of the rate differential plus late penalties, with limitation periods restarting from January 1 following delisting unless non-attributable reasons are certified by the Financial Markets Council. Furthermore, companies listing on the Alternative Market may deduct a graduated portion of their operating and exceptional profits over four years, subject to social security regularization and valid exchange certification.