Tunisia: Green Economy - Finance Law 2022 Measures to Have Positive Impact On Energy Balance

Tunis/Tunisia — The measures relating to green economy provided for in the Finance Law 2022 will have a positive impact on the energy balance, Minister of Finance, Sihem Namsia said Friday, without providing figures.

The Minister was speaking at a conference on the presentation of the provisions of the Finance Act 2022, held at the City of Culture.

Article 30 of the Finance Act 2022 provides for a reduction in taxation of electric and hybrid cars. Thus, hybrid vehicles under tariff codes 87-03 and 87-04, will be subject to a reduced consumption duty of 50%.

For vehicles under tariff codes 87-02 "Motor vehicles for the transport of ten or more people," 87-03 "Other vehicles" and 87-04 "Vehicles for the transport of goods", they will be exempted from the customs duty which was previously 30%.

Article 31 of the Finance Law for the year 2022 is geared to the green economy through cutting customs duties applied to the import of solar collectors, which (duties) are reduced from 20% to 10%.

The objective is to encourage the use of alternative energy and to continue to respond to the cost of producing electricity from solar energy. It should be noted that the deficit of the energy balance of Tunisia has reached 3.4 million tonnes of oil equivalent (Mtoe) at the end of the third quarter of 2021, although it has recorded a 16% rise, compared to the same period in 2020.

The rate of energy independence of Tunisia stood at 53% at the end of September 2021. The Finance Act for the year 2022 contained several measures designed to encourage the green economy, strengthen the foundations of sustainable development by supporting the preservation of the environment and funding the operations of control, sorting and recovery of waste.

They also aim to consolidate the financing of environmental systems by increasing tax on polluting products from 5 to 7%. In addition, some measures of the Finance Act 2022 provide for supporting companies operating in green economy and sustainable development through deducting from the tax base the interest arising from green bond credits, socially responsible bond credits, and sustainable bond credits, as they are defined in the regulations in force, within the limit of 10,000 dinars / year.

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