Accounting and tax
Corporate income tax regime
- The standard corporate tax rate is 30% on all profits;
- Value Added Tax (VAT) is a flat 19% on all goods, services and imports;
- Branches pay a corporate tax of 30%. There is no additional tax on branch remittances;
- Capital gains tax is subject to the standard corporate tax rate of 30%.
- A 10% withholding tax applies on dividends and royalties paid to resident and non-resident entities;
- A 7% withholding tax is levied on dividends distributed by companies listed on an approved stock exchange in the UEMOA;
- A 20% rate is levied on interest, unless reduced under a tax treaty;
- A 16% withholding tax applies on technical services fees and amounts paid as compensation for services;
- Social security contributions are levied on employers and employees at 16.40% and 5.25% respectively;
- A 2% tax on gross salary applies for Niger nationals, and 4% for expatriates.
Other tax considerations
- Gains from the sale of fixed assets may be deferred if the company commits to re-investing the gains in Niger within three years;
- Stamp duty is levied on cash transactions based on the transaction amount;
- Niger has a double tax treaty with France;
- Real property tax is levied at 1% on property owned by a company.
Legal and compliance considerations
- The tax year is the calendar year, and annual tax returns must be filed by 30 April of the subsequent year;
- Penalties apply for late filing, late payment, failure to file and filing an incorrect return;
- All companies must have a tax identification number appearing on all invoices;
- Large companies must file VAT returns by the 15 of the month following the month of transaction;
- Small and medium-sized companies must submit a VAT return by the 15 of the trimester following the month of transaction;
- Losses can be carried forward for three years and may be deducted from the corporate income tax base.
Healy Consultants Group Compliance Department will assist our Clients with:
- Documenting and implementing accounting procedures;
- Implementing financial accounting software;
- Preparing financial accounting records;
- Preparing forecasts, budget, and sensitivity analysis.
It is important our Clients are aware of their personal and corporate tax obligations in their country of residence and domicile, and that they will fulfil those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.