Tunisia Capital Gains Tax Guide 2026

Capital Gains on Shares — 10% Listed, 15% Unlisted

Capital gains from the sale of shares are taxed at different rates depending on whether the shares are listed on the Tunis Stock Exchange (Bourse de Tunis):

• Listed shares: 10% on net gains. An annual exemption of TND 10,000 applies, meaning the first TND 10,000 of gains in a calendar year are tax-free. Gains above TND 10,000 are taxed at 10%.
• Unlisted shares: 15% on net gains. No annual exemption for unlisted shares.
• Shareholders with 10%+ ownership: Gains on substantial shareholdings in unlisted companies may be subject to special rules.

For example, an investor selling listed shares with a gain of TND 50,000 would pay tax on TND 40,000 (after TND 10,000 exemption) at 10% = TND 4,000. An investor selling unlisted shares with the same gain would pay TND 7,500 (15% × 50,000).

Capital Gains on Property — Sliding Scale 5-25%

Gains from the sale of real property are taxed on a sliding scale based on the holding period. The rate decreases the longer the property is held:

• Less than 2 years: 25% of the net gain
• 2 to 5 years: 20% of the net gain
• 5 to 10 years: 15% of the net gain
• 10 to 15 years: 10% of the net gain
• 15 to 20 years: 5% of the net gain
• Over 20 years: Exempt

The gain is calculated as the sale price minus the inflation-adjusted acquisition cost plus allowable improvements. An inflation adjustment factor is applied for properties held over 5 years, using official consumer price index data. The primary residence is fully exempt from CGT if the owner has resided in it for at least 5 consecutive years before the sale.

Primary Residence Exemption

The sale of a primary residence (résidence principale) is fully exempt from capital gains tax if the following conditions are met:

• The property has been occupied as the principal residence for at least 5 consecutive years before the sale
• The property is owned by an individual (not a company)
• The sale is not part of a business of property development

If the property was used as a primary residence for less than 5 years, the exemption is prorated. For example, if the property was the primary residence for 3 out of 5 years, 60% of the gain is exempt and 40% is taxable.

Calculation of Gain

The capital gain is calculated as: Transfer value − (Indexed acquisition cost + Improvements + Transfer costs). The acquisition cost is adjusted for inflation using official CPI indices published by the National Institute of Statistics (INS). Transfer costs include registration fees, notary fees, and agent commissions. Losses on capital assets may be offset against capital gains in the same year only; unused losses cannot be carried forward.

Filing and Payment

CGT is declared and paid as part of the annual IRPP return (for individuals) or IS return (for companies). The tax is due by 30 April of the following year for individuals. For property transfers, the tax must be paid before the transfer can be registered with the Property Registry (Conservation de la Propriété Foncière). The notary handling the transaction is responsible for ensuring CGT is paid before registration. A clearance certificate (certificat de paiement) is required for the registration.

FAQs

Is CGT payable on inherited property when the heir sells it?

Yes, when the heir sells inherited property, CGT is payable on the gain calculated from the original owner's cost base (no step-up in basis at death). Inheritance tax paid is not deductible.

Do non-residents pay CGT on Tunisian property?

Yes, non-residents are subject to CGT at the same rates as residents on gains from Tunisian property. The buyer is required to withhold the tax from the purchase price and remit it to the tax authority.

How is CGT on shares calculated?

For listed shares, the gain is the difference between the sale price and the average acquisition cost (FIFO method may be used). Brokerage fees and transaction taxes are deductible. The annual TND 10,000 exemption applies.

Disclaimer

This guide provides general information about Tunisian capital gains tax for the 2026 tax year. Tax laws and rates may change. Always consult with a qualified Tunisian tax advisor or the Ministry of Finance for advice specific to your situation. InvestmentKit does not provide tax advice.