On 10 December 2015, the Tunisian parliament reportedly approved the draft Finance Law 2016, which includes changes in value added tax, incentives and others. Some of the main measures in the Law are summarized as follows: The 18% standard VAT rate and the 6% reduced VAT rate will be increased to 20% and 8% respectively, and the 12% reduced rate will be abolished; The 8% reduced VAT rate will apply for imports of equipment for investments purposes, and equipment acquired locally for investment purposes will be eligible for the VAT suspension regime; VAT exemptions for state-owned establishments and retail pharmaceutical...