Samoa

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About

Samoa

Capital
Official languages
Population
Currency

ISO 4217

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Samoan

200,000 (approximate)

Tala

WST

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Economy

Samoa has a small, open economy with a GDP of $1.2 billion in 2019, according to the World Bank. The country’s main exports are fish, coconut oil, and copra. Tourism is also a major contributor to the economy, with over 200,000 visitors in 2019. The country’s main imports are machinery and transport equipment, manufactured goods, and food and live animals. The unemployment rate in Samoa is estimated to be around 8.2%, according to the International Labour Organization. The country’s inflation rate is estimated to be around 3.2%, according to the World Bank. Samoa has a relatively low public debt of around 40.2% of GDP, according to the International Monetary Fund. The country’s currency is the Samoan Tala.

Taxation

Samoa is an independent country located in the South Pacific. Here is a brief overview of the taxation system in Samoa:

Corporate Taxation in Samoa:

- Corporate tax rate is 27%

- Capital gains tax rate is 27%

- Dividend income is not taxed

Personal Taxation in Samoa:

- Personal income tax rates range from 0% to 30%, depending on income level

- Capital gains tax rate is 27%

Tax Payment and Calendar:

- The tax year in Samoa runs from January 1 to December 31.

- Tax returns must be filed by March 31 of the year following the tax year.

- Corporate income tax payments are due quarterly, on the last day of the month following the end of the quarter.

- Individual income tax payments are made on a monthly basis, with the final payment due in May of the year following the tax year.

Taxpayers in Samoa are required to keep detailed records of their income and expenses, and may be subject to audits by the tax authorities. Failure to comply with tax laws can result in penalties and fines.

Samoa has also signed several tax treaties with other countries, including Australia, New Zealand, and the United States, which can impact the taxation of individuals and corporations with ties to those countries. It is always recommended to consult with a tax professional for personalized advice on tax matters in Samoa.

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