Mauritania

The most significant corporate tax developments in the last 12 months include the following:

• Inter-state Oil & Gas Cooperation Agreement concerning the development and operation of reservoirs of the Grand-Tortue/Ahmeyim (GTA) field and in connection with the taxation and customs regime applicable to subcontractors.
• Modification of the General Tax Code (GTC), introducing a corporate tax that cancelled the tax on industrial and commercial profit and minimum tax applicable from fiscal year (FY) 2020.
• The adoption of new approved tax returns, specifically adopted for each category of business for the annual income tax return. All taxpayers are required to use these forms exclusively to declare their results for the financial year ending 31 December 2023. There are three types of forms: (i) one form for taxpayers subject to corporate income tax (CIT) and individuals subject to tax on business profits of physical persons (impôts sur les bénéfices d’affaires des personnes physiques or IBAPP), (ii) one form for use by financial and bank establishments, and (iii) one form for taxpayers subject to the flat rate regime.