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 31/12/2023. There are 3 types of forms : (1) one destinated for taxpayers subject to CIT and individual subject to IBAPP; (2) one to use by Financial and Bank Establishment; (3) one form for taxpayers subject to flat rate regime.