Congo, Republic of
The Republic of Congo, a country located in Central Africa, is bordered by Gabon to the west, Cameroon and the Central African Republic to the north, the Democratic Republic of the Congo to the south and east, and Cabinda (Angola) and the Atlantic Ocean to the southwest. In 1960, the Republic of Congo declared its independence. The Republic of Congo is divided into 12 regions, with Brazzaville as the capital. The currency is the CFA franc (Coopération financière en Afrique centrale franc or XAF), and the official language is French. However, several regional languages are also recognised.
The economy is a mixture of subsistence agriculture, an industrial sector based largely on oil, and support services. Oil has supplanted forestry as the mainstay of the economy and provides a major share of government revenues and exports.
In the early 1980s, rapidly rising oil revenues pushed the Republic of Congo's gross domestic product (GDP) growth to a 5% annual average, one of the highest rates in Africa. Subsequent trends in oil prices have continued to affect economic progress.
In 2016, the petroleum industry accounted for an estimated 60% of the state budget, and, despite a decade of modest reforms initiated by the government of President Sassou Nguesso, the Republic of Congo remains heavily dependent on oil revenues to finance its development.
The oil and gas downturn has significantly impacted the economic environment. With the severe strain of continued low oil prices, the Congolese government has initiated political and economic actions to diversify its revenue stream to reduce its dependence on hydrocarbon and increase the contribution of tax-based revenue. In this respect, incentives are available for the development of other sectors, such as agriculture, forestry, tourism, etc.
At PwC Congo, we know that value goes beyond a single engagement or a single result. Value is defined by a relationship, one that is born of an intelligent, engaged, and highly collaborative process. As our client, you expect us to understand your business and the unique context within which you define value. With our global network, people, tools, and experience, we are ready and able to help you achieve that value wherever you do business.
Our tax practice is developed around functions such as corporate income tax (CIT), indirect taxes (value-added tax [VAT] and customs), personal income tax (PIT), and withholding tax (WHT) management. Our tax practice has teams that provide varied tax advisory services to clients operating in all the major sectors of the Congolese economy. We advise clients on a wide range of tax and business issues, including restructuring of transactions for maximum tax advantage.
|Corporate income tax (CIT) rates|
|Headline CIT rate (%)||
|Corporate income tax (CIT) due dates|
|CIT return due date||
|CIT final payment due date||
|CIT estimated payment due dates||
Quarterly instalments due on 20 February, 20 May, 20 August, and 20 November.
|Personal income tax (PIT) rates|
|Headline PIT rate (%)||
|Personal income tax (PIT) due dates|
|PIT return due date||
|PIT final payment due date||
|PIT estimated payment due dates||
|Value-added tax (VAT) rates|
|Standard VAT rate (%)||
18.90 (18% VAT + 5% surtax)
|Withholding tax (WHT) rates|
|WHT rates (%) (Dividends/Interest/Royalties)||
Resident: 15 / 0 / 0;
Non-resident: 15 / 5 or 20 / 10 or 20
|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 (%)||
|Inheritance and gift tax rates|
|Headline inheritance tax rate (%)||
|Headline gift tax rate (%)||