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Paying Taxes in

Equatorial Guinea

Below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as administrative burden in paying taxes and complying with postfiling procedures.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed on June 1, 2016 covering for the Paying Taxes indicator calendar year 2015 (January 1, 2015 – December 31, 2015).

Compare Equatorial Guinea to 189 other economies.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% of profit) Notes on TTR
Corporate income tax 1 145 35% or 3%, whichever is higher taxable profit or previous year's turnover 53.03
Turnover tax (Alternative Minimum Tax) 1 3% previous year's turnover 53.03 not included
Social security contributions 12 160 21.5% gross salaries 24.25
Training tax 12 1% gross salaries 1.13
Property tax (building and land) 2 1% 40% of the value of the land and buildings 0.59
Registration taxes with Ministry of Trade 1 fixed fee 0.40
Value added tax (VAT) 12 187 15% value added 0.00 not included
Property tax (land) 2 XAF 100 hectare 0.00
Vehicle tax 1 fixed fee depending on type of vehicle 0.00 small amount
Fuel tax 1 XAF 277 per liter fuel consumption 0.00 small amount
Stamp duty 1 0.00 small amount
Employee paid - Social security contributions 0 jointly various rates gross salaries 0.00 withheld
Totals: 46 492 79.4
  • Answer
    Profit tax (% of profit) 53.0
    Labor tax and contributions (% of profit) 25.4
    Other taxes (% of profit) 1.0
    Answer Score
    Postfiling index (0-100) 84.0
    VAT refunds N/A
    Does VAT/GST exist? Yes
    Frequency of VAT/GST refund submission N/A
    Does a VAT/GST refund process exist per the case study? No
    Restrictions on VAT refund process Purchase of machine exempted from VAT
    Likelihood of VAT audit N/A
    Time to comply with VAT refund (hours) N/A No VAT
    Time to obtain a VAT refund (weeks) N/A No VAT
    Corporate income tax audits 67.9
    Does corporate income tax exist? Yes
    Likelihood of corporate income tax audit Unlikely
    Time to comply with a corporate income tax audit (hours) 19.0 67.9
    Time to complete a corporate income tax audit (weeks) 0.0 100.0
    Administrative appeal process
    First level administrative appeal authority SSPRCA - Secretariat of State for the Presidency of the Republic in Charge of Audits
    Is the appeal authority independent? Independent Department outside tax office
    Are appeal guidelines accessible to the public? Yes
    Source of appeal guidelines in printed publication/in person at tax office
    Is there a legal time limit for the appeal authority to issue a decision on the tax appeal? Yes
    Legal time limit 30 days

Notes:

Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.

The hours for VAT include all the VAT and sales taxes applicable.

The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.

The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit.

N/A = Not applicable.