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Tunisia Investment Income Guide 2026

Investment income in Tunisia is taxed primarily through withholding tax at source. Dividends paid by Tunisian companies are subject to 10% WHT (final tax for individuals, creditable for companies). Interest on bank deposits is taxed at 10% WHT, while profit-sharing loans attract 20%. Royalties are taxed at 10% for patents and know-how, 20% for trademarks and copyrights. Capital gains on listed shares are taxed at 10% (with a TND 10,000 annual exemption), and unlisted shares at 15%.

Dividend Taxation — 10% WHT

Dividends paid by Tunisian companies are subject to a 10% withholding tax (retenue à la source) at the time of distribution:

  • Resident individuals: 10% WHT — this is a final tax (dividends are not included in the IRPP return)
  • Resident companies: 10% WHT — creditable against the company's IS liability
  • Non-residents: 10% WHT (standard rate), reduced under applicable DTAs (typically 5-10%)

For example, a resident individual receiving TND 10,000 in dividends receives TND 9,000 net, with TND 1,000 remitted to the tax authority as final tax. A non-resident shareholder in France (Tunisia-France DTA reduces to 5%) may receive TND 9,500 net.

Interest Taxation — 10% to 20% WHT

Interest income from various sources is subject to withholding tax as follows:

  • Bank deposits (savings accounts, term deposits): 10% WHT — final tax for individuals
  • Corporate bonds and debentures: 10% WHT for residents
  • Government bonds (Bons du Trésor): 10% WHT
  • Profit-sharing loans (prêts participatifs): 20% WHT
  • Non-residents: 10% standard rate on most interest, 20% on profit-sharing loans (reduced under DTAs)

The WHT is deducted by the paying institution at the time interest is credited. For example, a resident earning TND 5,000 in bank interest receives TND 4,500 net.

Royalty Taxation — 10% to 20% WHT

Royalties for the use of intellectual property are subject to withholding tax:

  • Patents, know-how, technical assistance: 10% WHT
  • Trademarks, copyrights, literary/artistic works: 20% WHT
  • Non-residents: Standard rates apply, reduced under DTAs (typically 5-12%)

Capital Gains on Securities

Capital gains from the sale of securities are subject to the following treatment:

  • Listed shares (Bourse de Tunis): 10% on net gains. Annual exemption of TND 10,000.
  • Unlisted shares: 15% on net gains. No annual exemption.
  • Government bonds: Gains on sale are subject to CGT at standard rates unless exempt.
  • Corporate bonds: Gains on sale are subject to CGT at applicable rates.

Government Bonds

Interest from Tunisian government bonds (Bons du Trésor) is subject to 10% withholding tax. The interest is not exempt from tax but is taxable at the standard rate. Capital gains on government bonds are generally taxable at the standard CGT rates for securities. Government bonds are popular with both resident and non-resident investors due to their relatively high yields and government guarantee.

Double Tax Treaties

Tunisia has an extensive network of over 50 double tax treaties that reduce WHT rates on dividends, interest, and royalties. Typical treaty rates are: dividends 5-10%, interest 10-12%, royalties 5-12%. Taxpayers claiming treaty benefits must provide a certificate of residence from their home tax authority.

FAQs

Is rental income considered investment income?

No, rental income is classified as property income and is included in the IRPP return (see the rental income guide for details). Rental income is not subject to withholding tax but is declared in the annual return.

Are foreign dividends taxable in Tunisia?

Yes, Tunisian tax residents must declare foreign dividend income in their annual return. A foreign tax credit may be available for taxes paid in the source country, limited to the Tunisian tax attributable to that income.

Can I reclaim excess withholding tax?

Yes, if tax has been withheld at a rate higher than the applicable treaty rate, the taxpayer may apply to the tax authority for a refund.

Disclaimer

This guide provides general information about Tunisian investment income taxation 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.