Page 12 - Profmark Africa Overview 2024

Burundi (GMT +2)

General:
▪ Capital City: Bujumbura
▪ Official Language: Kirundi and French
▪ Currency: Burundian Franc (BIF)
▪ Main Exports: Coffee, tea, cotton, sugar, skins
▪ Surface Area: 27.8 sq. km (thousands)
▪ Population: 14,15 million (2024,est)
Key Economic Indicators:
▪ GDP: $2.64 billion (2023)/ GDP Growth Rate: 2.7% (2023)
▪ CPI Inflation Rate (annual): 26.9% (2023)
▪ Sovereign Credit Rating: Currently no rating
▪ Indicator of Economic Freedom Score: 38.4/100
Exchange Controls:
▪ Exist, but liberal
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Worldwide income
▪ Non-residents: Burundian-source income
Tax Rates:
▪ Individuals: Progressive rates to 30% [the first BIF 1,800,000 of taxable income - 0%]
▪ Companies: 30% (resident) / 35% (non-resident)
▪ Inheritance and Donations Taxes: N/A
▪ VAT: 18%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Taxable at a rate of 15%
▪ Double Taxation Agreements: N/A
Useful links:
▪ Bank of Rep. of Burundi http://www.brb.bi
▪ Burundi Revenue Authority http://www.english.obr.bi
▪ Burundi Investment Promotion Authority http://www.investburundi.com

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