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Equatorial Guinea
Overview
Last reviewed - 02 August 2023Equatorial 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 more than 20 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 (%) (Dividends/Interest/Royalties) |
Resident: 10; Non-resident: 25 / 25 / 10 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline 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 | |
|---|---|
| Headline inheritance tax rate (%) |
10 |
| Headline gift tax rate (%) |
5 |
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