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Official languages

ISO 4217


Malagasy and French

Approximately 27.4 million

Malagasy Ariary


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"Madagascar has seen a steady improvement in its economy over the past few years. According to the World Bank, the country’s GDP grew by 4.2% in 2019, up from 3.7% in 2018. This growth was driven by increased investment in infrastructure, tourism, and agriculture. Inflation has also been kept in check, with the rate dropping from 6.2% in 2018 to 4.7% in 2019.

The country’s unemployment rate has also seen a decrease, dropping from 8.2% in 2018 to 7.7% in 2019. This is due to increased investment in the agricultural sector, which has created more jobs.

The country’s exports have also seen an increase, with exports reaching $2.3 billion in 2019, up from $1.9 billion in 2018. This is due to increased demand for Madagascar’s agricultural products, such as vanilla, coffee, and cocoa.

Overall, Madagascar’s economy has seen a steady improvement over the past few years, with increased investment in infrastructure, tourism, and agriculture leading to increased GDP growth, lower unemployment, and higher exports."


Madagascar has a relatively simple tax system with different rates and rules for corporate and personal taxation. Here is an overview of the tax system in Madagascar:

Corporate taxation:

- The standard corporate income tax rate in Madagascar is 20%, which applies to both resident and non-resident companies.

- There is also a minimum corporate tax of MGA 1,000,000 (approximately USD 270) for companies with annual turnover below MGA 50,000,000 (approximately USD 13,500).

- Capital gains are generally taxed as regular income, but there are exemptions available for certain types of gains.

Personal taxation:

- Madagascar residents are subject to personal income tax on their worldwide income, with a progressive tax rate that ranges from 0% to 35% depending on income level.

- Non-residents are only taxed on their income sourced from Madagascar.

- There is also a solidarity tax on high income earners, which applies to individuals with monthly income over MGA 10,000,000 (approximately USD 2,700) at a rate of 2%.

- Capital gains are generally taxed as regular income, but there are exemptions available for certain types of gains.

Tax payment process and calendar:

- The tax year in Madagascar is from January 1st to December 31st of the same year.

- Taxpayers are required to file their tax returns by April 30th of the year following the tax year.

- Corporate income tax payments are made quarterly, with deadlines of March 30th, June 30th, September 30th, and December 30th.

- Personal income tax payments are made on a monthly basis, with deadlines on the 15th of each month.

- Late tax payments are subject to penalties and interest charges.

Madagascar has been implementing tax reforms in recent years to improve tax collection and compliance. However, tax evasion and informal economic activity remain significant challenges for the country's tax system.

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