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Madagascar
Overview
Last reviewed - 17 September 2024Madagascar is an island nation along the southeast coast of Africa. Formerly an independent kingdom, it became a French colony in 1896 but regained independence in 1960. Madagascar is a constitutional democracy divided into 23 regions, with Antananarivo as the capital. Malagasy and French are the official languages of Madagascar, and the currency is the Malagasy ariary (MGA).
After discarding socialist economic policies in the mid-1990s, Madagascar has followed a World Bank and International Monetary Fund (IMF) led policy of privatisation and liberalisation. This strategy placed the country on a slow and steady growth path. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of gross domestic product (GDP) and employing 80% of the population.
PwC Madagascar provides audit, tax and legal, and advisory supports to clients. The tax practice has extensive knowledge and experience in dealing with issues related to mining activities, banking, and the exploration for oil and gas. The PwC team also has access to a broad range of other professionals across the PwC global network of firms.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
20 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
For companies whose financial year ends at 31 December: 15 May; For companies whose financial year ends at 30 June: 15 November; For all other financial year-ends: within four months. |
| CIT final payment due date |
For companies whose financial year ends at 31 December: balance is due before 15 May; For companies whose financial year ends at 30 June: balance is due before 15 November; For all other financial year-ends: balance is due within four months. |
| CIT estimated payment due dates |
Tax is payable bi-monthly in provisional instalments. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
20 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
31 March for small individual businesses, and within 15 days of the fourth month of the end of the financial year for other businesses. |
| PIT final payment due date |
31 March for small individual businesses, and within 15 days of the fourth month of the end of the financial year for other businesses. |
| PIT estimated payment due dates |
NA |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
20 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 0 / 20 / 0; Non-resident: 10 / 20 / 10 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
20 |
| Headline individual capital gains tax rate (%) |
20 |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NA |
| Headline gift tax rate (%) |
NA |
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