Accounting and tax

1. Corporate income tax in South Sudan is levied at progressive rates set according to the level of a company’s turnover: i) 10% for companies with turnovers less than US$330,000 ii) 15% for companies with turnovers from US$330,000 to US$25million and iii) 20% for companies with turnovers exceeding US$25million;
2. Capital gains in South Sudan are treated as normal corporate income and are subject to the applicable progressive corporate tax rate of 10% – 20% according the company’s yearly turnover;
3. All legal entities in South Sudan must register for taxes at the Ministry of Finance and obtain a Tax Identification Number (TIN). Annual tax returns must be filled by the 1st of April following the end of the fiscal year or the equivalent depending on the company’s financial year;
4. A 10% withholding tax is applicable on i) dividends ii) royalties iii) interests and iv) rent paid to both resident and non-resident companies;
5. A 15% sales tax is applicable on goods produced and imported into South Sudan;
6. Employers in South Sudan are obliged to submit a monthly social security contribution of 17% of their employees’ monthly remunerations;
7. Companies in South Sudan are permitted to carry forward their business tax losses for a maximum period of 5 years, a carryback of losses is however not allowed;
8. Healy Consultants will assist the Client with i) documenting and implementing accounting procedures ii) implementing financial accounting software iii) preparing financial accounting records and iv) preparing forecasts, budgets and performing sensitivity analysis;