Taxation

Taxation in Guinea-Bissau is regulated by the Tax Code and the National Directorate of Taxes (DNI) of Guinea-Bissau.

Corporate Taxation:

Companies registered in Guinea-Bissau are subject to corporate income tax at a flat rate of 25% on their net taxable income. In addition to corporate tax, companies may also be subject to other taxes such as value-added tax (VAT), payroll tax, and municipal taxes.

Personal Taxation:

Individuals who are resident in Guinea-Bissau are subject to a progressive income tax system with tax rates ranging from 10% to 35% depending on their income level.

Tax Payment Process:

The tax year in Guinea-Bissau runs from 1st January to 31st December of the same year. Both individuals and corporations are required to file their tax returns annually, with the deadline for filing being in March of the following year.

Taxpayers can make their payments at any authorized bank or online through the DNI's website. In addition to income tax, taxpayers may also be subject to other taxes such as property tax, stamp tax, and customs duties.

It is important to note that tax evasion is a significant issue in Guinea-Bissau, and the government has been making efforts to improve tax compliance by implementing measures such as electronic tax payment systems, taxpayer education programs, and the creation of a tax court to handle tax disputes.

In summary, the tax system in Guinea-Bissau includes a flat corporate tax rate of 25% for companies and a progressive income tax system for individuals, with tax rates ranging from 10% to 35%. The tax year runs from January 1st to December 31st with the deadline for filing tax returns being in March of the following year. Taxpayers can make their payments at any authorized bank or online through the DNI's website.