Page 15 - Profmark Africa Overview 2024

Comoros (GMT +3)

General:
▪ Capital City: Moroni
▪ Official Language: French and Arabic
▪ Currency: Comorian Franc (KMF)
▪ Main Exports: Cloves, ylang-ylang, perfume essences, vanilla, copra
▪ Surface Area: 1.9 sq. km (thousands)
▪ Population: 0,8 million (2024,est)
Key Economic Indicators:
▪ GDP: $1,35 billion (2023) / GDP Growth Rate: 2.7% (2023)
▪ CPI Inflation Rate (annual): -4.3% (2023)
▪ Sovereign Credit Rating: Currently no rating
▪ Indicator of Economic Freedom Score: 52/100
Exchange Controls:
▪ N/A
Basis of Taxation: (Tax Year End: 31 December)
▪ Generally source based for residents and non-residents

Tax Rates:
▪ Individuals: Progressive rates to 30% [the first KMF 150,000 of taxable income - 0%]
▪ Companies: 35% (max), [Companies registered in Comoros do not pay tax on
dividends and capital gains]
▪ VAT: 10%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Taxable at varying rates
▪ Double Taxation Agreements: N/A

Useful links:
▪ Union of Comoros Government http://www.beit-salam.km
▪ Central Bank of Comoros http://www.banque-comores.km
▪ ANPI (Investment Authority) http://www.investcomoros.net

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