Equatorial Guinea

Overview

Last reviewed - 26 February 2020

Equatorial Guinea (EG), a country located on the west coast of Central Africa, obtained its independence from Spain in 1968. It is composed of a mainland portion plus five islands. The country is divided into eight provinces, and its capital city is Malabo. Equatorial Guinea has a republican form of government, and the official languages are Spanish, Portuguese, and French. Equatorial Guinea's currency is the Coopération Financière en Afrique centrale (Central African CFA) franc (XAF).

Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil and gas reserves. In the last decade, Equatorial Guinea has become Sub-Saharan Africa's third largest oil and gas producer and exporter. Public works, banking, forestry, and fishing are also major components of its gross domestic product (GDP). Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold.

PwC Equatorial Guinea has been assisting major oil and gas, construction, and telecommunication companies, as well as major banks, working in Equatorial Guinea on a whole range of issues related to tax law, company law, contract law, trade law, labour law, customs law, environment law, and hydrocarbons law for around 17 years.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%) 35
Corporate income tax (CIT) due dates
CIT return due date Within the first four months of the year following the taxable fiscal year.
CIT final payment due date Within 15 days from the day following the date of receipt of the tax liquidation issued by the Ministry of Finance and Budget.
CIT estimated payment due dates NA
Personal income tax (PIT) rates
Headline PIT rate (%) 35
Personal income tax (PIT) due dates
PIT return due date NP
PIT final payment due date NP
PIT estimated payment due dates Within the first 15 days of the month following the month of payment of the salaries.
Value-added tax (VAT) rates
Standard VAT rate (%) 15
Withholding tax (WHT) rates
WHT rates (%) (Div/Int/Roy) Resident: 10;
Non-resident: 25 / 25 / 15
Capital gains tax (CGT) rates
Corporate capital gains tax rate (%) Capital gains are subject to the normal CIT rate.
Individual capital gains tax rate (%) Capital gains are subject to the normal PIT rate.
Net wealth/worth tax rates
Headline net wealth/worth tax rate (%) NA
Inheritance and gift tax rates
Inheritance tax rate (%) 10
Gift tax rate (%) 5

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.

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