|GDP (2012 est.)||$25.95 billion (2012 est.)|
|Currency & Exchange Rate||meticais (MZM) per US dollar 28.38|
Tropical to subtropical.
|Crude oil - production(bbl/day)||20|
|Crude oil - exports(bbl/day)||0|
|Crude oil - imports(bbl/day)||0|
|Crude oil - proved reserves(bbl)||0|
|Refined petroleum products - production(bbl/day)||991.6|
|Refined petroleum products - consumption(bbl/day)||19,580|
|Natural gas - production(cu m)||3,820,000,000|
|Natural gas - proved reserves(cu m)||127,400,000,000|
Social Sec urity contributions are payable monthly on salaries, wages, bonuses and other compensation income. Contribution rates are 4% for employers and 3% for employees. The employer witholds the employee contributions monthly. Resident foreign employees are exempt from social security contributions provided that they are contributing to a similar scheme in another country.
Residents of Mozambique are subject to tax on their worldwide income. Non-residents are subject to income tax on income arising in Mozambique. Individuals are considered to be resident if they satisy any of the following conditions: present for more than 180 days annually; present for less than 180 days but maintain a residence that indicate an intention to remain.
Residential taxation: foreigners taxed on local income; residents taxed on local and overseas income.
Southeastern Africa, bordering the Mozambique Channel, between South Africa and Tanzania.
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