CAPITAL
Niamey
POPULATION
22 Million
AREA
1.267 million sq km
LEGAL SYSTEM
A mixed legal system of civil law, based on French civil law, Islamic law, and customary law.
TAX REGIME
Personal Income Tax | Local & Expatriate
| Summary | Tax Rate/s |
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The taxable income is calculated by deducting a standard deduction of 30% on gross income which cannot exceed 900K XOF and also the number of dependent has a positive effect on income tax. The rate is the same for both locals and expats
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Between 20 and 40% of taxable income – it is a progressive rate.
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Corporate Income Tax
| Summary | Tax Rate/s |
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The Corporate tax rate is applicable to companies that realize a tax profit. However, if there is a loss, then the minimum CIT is calculated on 0.5% of revenues.
|
30% |
Withholding Tax
| Summary | Tax Rate/s |
There are several WHT in Senegal:
However, if the securities have been held for at least 5 years and in Senegal the WHT rate is at 6 %.
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Capital Gains Tax
| Summary | Tax Rate/s |
Companies pay capital gains tax at the income tax rate of 30%. Other taxpayers pay the following :
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Environmental Levy
| Summary | Tax Rate/s |
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The tax is paid to the landlord for the rental of office space or staff housing. |
Trash collection tax – 3.6% |
Inheritance Tax
| Summary | Tax Rate/s |
| Registration fees on the amount exceeding 200 million. |
Dividend Tax
| Summary | Tax Rate/s |
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The withholding is at the charge of the person receiving the dividend.
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10% withholding.
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VAT/GST
| Summary | Tax Rate/s |
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There are goods and services that are explicitly exempt from VAT such as goods of first necessity (rice, sugar, etc.).
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Bilateral Tax Treaties and DTAAs
| Summary | Tax Rate/s |
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Tax Incentives
| Summary | Tax Rate/s |
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In the first three years for SMEs exemption from the minimum income tax in case of a loss. For the same SMEs they have an exemption on the employer contribution to payroll income tax for a period of three years. Interest income on government bonds are exempt from taxation. |
Tax Incentives
| Summary | Tax Rate/s |
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Tax Code which has amendments through the annual budgets.
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TOP INDUSTRIES
URANIUM MINING
PETROLEUM
CEMENT
BRICK
SOAP
TEXTILES
FOOD
ECONOMIC OVERVIEW
Niger is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock and some of the world’s largest uranium deposits. Agriculture contributes approximately 40% of GDP and provides a livelihood for over 80% of the population.
The Government of Niger plans to exploit oil, gold, coal, and other mineral resources to sustain future growth. Although Niger has sizable reserves of oil, the prolonged drop in oil prices has reduced profitability.