Taxpayers are required to keep all accounting items showing income and expenses for five years following the respective operations.
Accounting books must allow a precise determination of the following for each settlement period:
total amount of VAT that the taxpayer has passed on to its clients; and
total amount of VAT that suppliers have passed on to the taxpayer during the same settlement period, and total amount of VAT taxing imported goods.
Other indirect taxes
Special Duty Tax
A standard Special Duty Tax of 30% applies to an exhaustive list of products (mainly luxury goods) contained in Annexure 3 of the Tax Code.
However, contradicting the preceding rule, both the Tax Code and CEMAC provisions apply special rates to the list of products such as:
sparkling wine or champagne – 20% (Special Duties); 15% (CEMAC duties);
Villa Carmina 67 Calle Acacio Mane
Apdo 431 MALABO
PwC contact person
Sébastien Lechene François Münzer
Senior manager in charge Senior consultant
Contact details – PricewaterhouseCoopers, Equatorial Guinea
cigars, cigarettes and tobacco – 50% (Special Duties); 25% (CEMAC duties); and
photographic devices with automatic flashes – 25% (Special Duties).
An import duty (ranging from 5% to 30%) is applied to the price paid.
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