There is no corporate tax. However, companies are subject to the industrial and commercial profits tax at the rate of 25% and to the lump sum minimum tax of 0.5% of the gross turnover (0.15% for credit establishment, insurance and reinsurance companies, and 0.1% for production, transformation, distribution of oil, and for water and electricity). Companies engaged in the telecommunication, information technology, and communication sectors are subject to tax at the rate of 30%.