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Retained

  • Statutory Tax Rate 25
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 25

Statutory Tax Rate

The standard corporate tax rate for resident companies is 25%. The corporate tax rate for companies active in telecommunication, banking and insurance sectors, as well as companies engaged in the importation, warehousing or distribution of petroleum products is 35%. The corporate tax rate for mining companies is 30%. A minimum annual tax is payable at the rate of 3% of annual turnover (increased from 1.5% effective 1 January 2019), which is creditable against corporate income tax, with minimum and maximum amounts as prescribed.

Capital Gains

  • Statutory Tax Rate 10
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 10

Statutory Tax Rate

Capital gains arising from the disposal of shares are taxed at a rate of 10%. Capital gains arising from the sale of capital assets (other than shares) are subject to tax at the standard corporate tax rate.