Mozambique

Country Information

Continent Africa
GDP (2012 est.) $25.95 billion (2012 est.)
Currency & Exchange Rate meticais (MZM) per US dollar 28.38
Dialling Code
+258

Climate

Tropical to subtropical.

Witholding Tax

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 Security

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.

Income Tax Rates

  • 0-42,000 10%
  • 42,000-168,000 15%
  • 168,000-504,000 20%
  • 504,000-1,512,000 25%
  • 1,512,000+ 32%

Individuals Are Regarded as Tax Residents If

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.

International Tax Regime

Residential taxation: foreigners taxed on local income; residents taxed on local and overseas income.

Location

Southeastern Africa, bordering the Mozambique Channel, between South Africa and Tanzania.

CCL Country Manager

Contact Details

Name:

Direct:

Email:

LinkedIn:

Greg Clarke

+255 766 722 982

greg.clarke@cclglobal.com

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