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Mauritania

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About

Mauritania

Capital
Official languages
Population 
Currency

ISO 4217

Nouakchott

Arabic and French

4,327,959 (as of 2019)

Ouguiya

MRO

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Economy

"Mauritania 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 activity in the mining, construction, and services sectors. The country’s inflation rate also decreased from 4.2% in 2018 to 3.2% in 2019.

The country’s unemployment rate has also decreased from 15.2% in 2018 to 14.2% in 2019. This is due to increased investment in the country’s infrastructure and the creation of new jobs in the mining and services sectors.

Mauritania’s foreign direct investment (FDI) also increased from $1.2 billion in 2018 to $1.5 billion in 2019. This is due to increased investment in the country’s mining sector, which has seen a surge in activity in recent years.

Overall, Mauritania’s economy has seen steady growth over the past few years, driven by increased investment in the mining, construction, and services sectors. The country’s unemployment rate has also decreased, and foreign direct investment has increased."

Taxation

Mauritania is a country located in West Africa and has a tax system that includes both corporate and personal income taxes. Here is an overview of the tax system in Mauritania:


Corporate taxation:

- The corporate income tax rate in Mauritania is a flat rate of 25%.

- Resident corporations are taxed on their worldwide income, while non-resident corporations are only taxed on income sourced from Mauritania.

- Capital gains are taxed at the same rate as corporate income.

- The country also has a value-added tax (VAT) of 14%.


Personal taxation:

- The personal income tax system in Mauritania is progressive with rates ranging from 0% to 30%.

- The first 60,000 Ouguiya (Mauritanian currency) earned by an individual is tax-exempt.

- Non-residents are only taxed on income sourced from Mauritania.


Tax payment process and calendar:

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

- Taxpayers are required to file their tax returns and pay any taxes owed by March 31st of the year following the tax year.

- Corporate income tax payments are made on a quarterly basis, with the first three quarters due on the 15th day of the month following the end of the quarter and the final quarter due by March 31st of the following year.

- Personal income tax payments are made through the employer withholding system, with payments made on a monthly basis.

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


It's worth noting that Mauritania has faced challenges with tax evasion and non-compliance, which has led to a relatively low tax revenue-to-GDP ratio. The government has taken steps to address this, including increasing tax enforcement efforts and implementing reforms to simplify the tax system and reduce compliance costs for taxpayers.

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