CHAPTER X
ENTERPRISES RESCUE AND TRANSFER
ENCOURAGEMENT
Art. 46 - The enterprises recovery operation provided
for in law n° 95-34 relating to enterprises in economic
difficulties, as amended and completed by subsequent texts,
shall be considered as an operation of establishment
entitling to the benefit of interventions of the state special
funds on the title of funds to be reimbursed and capital
contributions to complete the financial structure according
to the law in force.
It shall also benefit from these interventions, the
optional transfer operations in case of death, as well as in
cases of running incapability and retirement provided for in
article 11 (bis) of the personal and corporate income tax
code with the condition to regularize the prior situation to
the funds to be reimbursed.
These provisions do not apply to the operations of
acquisition of actions or shares within the framework of the
continuation of the activity or the transfer provided for by
law n° 95-34 referred to above, the managers of the
enterprise and the majority associate at the date of
acquisition or the subscription for the calculation of the
participation rate of the majority associate, shall be taken
into account the participations of associate as well as those
of the spouse and the emancipated children.
Art. 47 - Shall be added to the article 7 of the incentives
investments code a paragraph 3, reading as follows :
3 - with consideration to articles 12 and 12 (bis) of law
n° 89-114 dated 30 December 1989, promulgating the
personal and corporate income tax code, shall be deductible
from the tax assessment on personal and corporate income
from enterprises, the incomes or benefits which are
reinvested in purchasing an enterprise assets or the
acquisition or subscription of actions or shares which lead
to detaining 50% of the capital of an enterprise personally
transferred in case of death, as well as in cases of running
incapability and retirement provided for in article 11 (bis)
of the personal and corporate income tax code, as well as
within the frame of the continuation of activity or the
transfer provided for in law n° 95-34 referred to above,
relating to enterprises in economic difficulties, as amended
and completed by subsequent texts, in the limit of 35% of
net incomes or benefits submitted to personal and corporate
income tax.
These provisions do not apply to the operations of
acquisition of actions or shares within the framework of the
continuation of the activity or the transfer provided for by
law n° 95-34 referred to above, the managers of the
enterprise and the majority associate at the date of
acquisition or the subscription for the calculation of the
participation rate of the majority associate, shall be taken
into account the participations of associate as well as those
of the spouse and the emancipated children.
Art. 48 - Shall be added to the article 13 of the
incentives investments code a paragraph 3, reading as
follows :
3 - with consideration to articles 12 and 12 (bis) of law
n° 89-114 dated 30 December 1989, promulgating the
N° 104
personal and corporate income tax code, shall be deductible
from the tax assessment on personal and corporate income
from enterprises incomes or benefits which are reinvested
in purchasing a wholly export enterprise assets, actions or
shares which lead to detaining 50% of the capital of a
wholly export enterprise as well as within the frame of the
transfer provided for in law n° 95-34 , relating to
enterprises in economic difficulties, as amended and
completed by subsequent texts.
Art. 49 - Shall be added to the article 23 of the
incentives investments code a paragraph 4, reading as
follows :
4 - Not withstanding articles 12 and 12 (bis) of law n°
89-114 dated 30 December 1989, promulgating the
personal and corporate income tax code, shall be deductible
from the tax assessment on personal and corporate income
from enterprises incomes or benefits which are reinvested
in purchasing an enterprise assets or the acquisition of
actions or shares which lead to detaining 50% of the capital
of these enterprises within the frame of the transfer
provided for in the abovementioned law n° 95-34, relating
to enterprises in economic difficulties, as amended and
completed by subsequent texts.
These provisions do not apply to the operations of
acquisition of actions or shares within the framework of the
continuation of the activity or the transfer provided for by
law n° 95-34 referred to above, the managers of the
enterprise and the majority associate at the date of
acquisition or the subscription for the calculation of the
participation rate of the majority associate, shall be taken
into account the participations of associate as well as those
of the spouse and the emancipated children.
The law herein shall be published in the Official Gazette
of the Republic of Tunisia and implemented as law of the
state.
Tunis, 27 December 2007.
Zine El Abidine Ben Ali
Law n° 2007-70 dated 27 December 2007 relating
to the finance law for the year 2008 (1).
In the name of the People ;
The Chamber of Deputies and the Chamber of Advisors
having adopted;
The President of the Republic enacts the following law :
Article one :
The incomings arising from the collection of taxes,
fees and several returns, and loans for a total of
15.242.000.000 dinars are authorized till 2008 and
remains authorized to be deducted for the benefit of the
state budget, and classified as follows :
________
(1) preparatory works :
Discussion and adoption by the Chamber of Deputies during
its session held on 3 December 2007.
Discussion and adoption by the Chamber of Advisors during
its session held on 14 December 2007.
Official Gazette of the Republic of Tunisia — 28-31 December 2007
Page 1403