The Tunisian Startup Act has been implemented today, thereby officially becoming law and has got published in the Official Journal of the Republic of Tunisia (JORT). As per sources, the Minister of Communication Technologies and Digital Economy, Mr. Anouar Maarouf, yesterday had announced the official implementation at the Afric’Up event.
Earlier this year, in April, Tunisia had passed the ‘Startup Act’ after two years of deliberation. The Act promised a bundle of benefits including exemption of startups from corporate taxes for up to eight years, special customs procedures, exemption from capital gains tax on investments made in startups. It also offered up to one year of time off from the current jobs (for both private and public sector employees), and salary for up to three founders during the first year of operations.
As per Global Entrepreneurship Index 2018, based upon 14 parameters, Tunisia ranks 6th in MENA region and 40th worldwide on the health of the ecosystem. It is anticipated that this ecosystem could be the next game changer for the African continent. Fellow countries that rub shoulders with Tunisia are Botswana and South Africa.