During the plenary session on Tuesday, November 12, 2024, the Minister of Finance, Sihem Boughdiri Nemssia, unveiled key elements of the draft reform of the Foreign Exchange Code. According to the minister, this project aims to modernize Tunisian legislation on the management of international financial transactions and to support the integration of the national economy into its global environment.
Nemssia explained that the new Foreign Exchange Code will be designed to meet the requirements of rapidly changing economic sectors, particularly those linked to the knowledge economy and high value-added activities.
One of the major objectives is to allow young entrepreneurs, particularly those working in free services, to open foreign currency accounts and have the freedom to use these funds to cover their expenses abroad.
The minister also addressed efforts to revise the Insurance Code, with a view to strengthening the financial solidity of companies in the sector, improving their governance and integrating more rigorous risk management practices.
Another essential axis of the reform concerns the digitalization of international financial exchanges. According to the minister, a digital transformation program is underway, with the establishment of the “Taj” platform, launched at the start of the last quarter of 2024. This electronic platform allows the management of withholding tax certificates.
The first phase of this project saw the launch of websites for suppliers, available from October 21, 2024. The second phase, which concerns on-site consumer service providers, will start as soon as suppliers are ready to begin the process marketing.
The proposed reforms aim, according to the minister, to boost investment in Tunisia, to promote the competitiveness of businesses and to guarantee better regulation of international financial flows.
