NEWSLETTER FEBRUARY 2017

Transcription

1 NEWSLETTER FEBRUARY 2017

2 MONTHLY TAX OBLIGATIONS DATE OBLIGATION DESCRIPTION LEGAL BASIS DAY 10 Social Security Payment of employees Social security contribution from salaries of previous month. Art.11 of Decree no. 53/07, of 3 December Stamp Tax Payment of taxes related to bills of exchange and promissory notes resulting from the use of credit in financial transactions and insurance polices which fiscal obligations were incurred in the previous month. Art.16, no.1 of Decree no. 6/2004 IRPS (Personal Income Tax) Payment of withheld taxes from Personal Income Tax Code (includes PAYE) Art.65 CIRPS IRPC (Company Income Tax) Payment of Corporate Tax No.5, Art.67 CIRPC Specific Tax on Oil Production Payment of Oil production taxes for the previous month. Art.10 of Decree no. 4/2008 Mining Production Tax Payment of mineral extraction taxes for the previous month. Art.10 of Decree no. 5/2008 Normal Regime THE LAST DAY OF VAT Submission to relevant Tax Authority the periodic statement of of the previous month with respective payment. Taxpayers who did not perform any taxable transaction are also required to submit periodic statement. Art.25, point c), no.1, Art. 32 of CIVA THE MONTH Isolated acts Taxable persons who performed independently a single taxable Art.33 of CIVA transaction should submit the respective statement (Model E)

3 TAX ON VEHICLES Tax on Vehicles must be paid until the end of March charged in municipalities. The tax is presented in the following tables: Cars: Fuel used Powered by electricity Petrol (cc) Other Products (cc) Total Voltage less than 6 from 6 to 12 from 12 to 25 A less than less than 1500 Less than B from to from to above C from 1 300to from to D from to from E from to F above Heavy freight vehicles: Load Capacity kg less than 6 from 6 to 12 from 12 to 25 G less than H from to I from to J from Passenger transport vehicles: Number of passenger seats less than 6 more than 6 to 12 from 12 to 25 K from 10 to L from 26 to M from 41 to N above Motorcycles: Cubic Centimetres less 5 from 5 to 10 from 10 to 15 A less than B from 50 to C from 100 to D above Aircrafts: Maximum authorized takeoff weight (Kg) A less than B from 600 to C from to D from to E from to F from to G from to H above

4 Leisure boats: Annual Tax according to age of the boat Recreational Boats Indicators Tier 1 Up to 15 Tier 2 Over 15 Gross tonnage (tonnes) Propulsion power (HP) For each ton or fraction of gross tonnage Fraction of the total power of the propulsion For each fraction of tonnage or gross tonnage Fraction of the total power of the propulsion A less than 2 above ,00 100,00 120,00 80,00 B from 2 to 5 C from 5 to 10 D from 10 to 20 E from 20 to 50 F above 50 less ,40 112,00 147,60 93,60 above ,60 123,00 160,80 93,60 less ,60 123,00 172,80 93,60 above ,00 149,00 187,20 106,40 less ,60 149,00 199,20 106,40 above ,40 174,00 225,60 118,40 less ,20 174,00 225,60 118,40 Above ,20 186,00 252,00 131,20 less ,60 186,00 265,20 131,20 Above ,60 235,00 292,80 158,40 PERSONAL INCOME TAX (IRPS) Taxpayers who have earned income only from employment (First Category) must submit until March 31st the annual income from the previous year. LEVY ON ECONOMIC ACTIVITY Companies are obliged to pay the Economic Activity Fee (TAE) that should be paid when performing any commercial or industrial activity. TAE is paid in three instalments: 1st installment - until March 31st; 2nd installment - until May 31st; 3rd installment - until September 30th. These fees can be paid in one installment until 31st March 2017.

5 LEGISLATION PUBLISHED DURING THE MONTH OF JANUARY CENTRAL BANK: Dispatch: Revokes authorization for the exercise of the activity conferred to Nossa Banco, SA, and orders the dissolution and liquidation and appoints the liquidation committee. Notice No. 4/GBM/2016: Sets the processing fee of the license application and the annual license fee of the credit information centers. Notice No. 5/GBM/2016: Establishes the information that Credit Information Centers must periodically send to the Central bank for the purpose of supervising its activity. Notice No. 6/GBM/2016: Approves the Regulation on the clearance and constitution of mandatory reserves and revokes the Warning No. 2 / GBM / 2016 of August 19. ASSEMBLY OF REPUBLIC: Resolution No. 19/2016: Changes and republishes the Resolution No. 16/2016, of 1 August, which creates the parliamentary commission of inquiry to investigate the situation of the public debt. MINISTRY OF ECONOMY AND FINANCE: Dispatch: Delegates the power of promotion and assignment of patents from chief customs superintendent to Customs Inspector, to the President of the Tax Authority, and the power of promotion and assignment of patents of Customs Assistant to Custom Agent, to the General Director of Customs. MINISTRY OF MINERAL RESOURCES AND ENERGY: Ministerial Diploma No. 88/2016: Approves the terms and conditions of the Mocuba solar project concession, between the Government of the Republic of Mozambique and the Mocuba solar plant, S.A., for the production and sale of electric power with a gross nominal capacity of 40MW. COUNCIL OF MINISTERS: Decree No. 60/2016: Creates the agency for the promotion of investment and exports and repeals articles 3 and 4 of Decree nº 14/93, of 21 of July, Decree nº 75/2007, of December 24 and Decree nº 25/90, of 29 November, which create the CPI, GAZEDA and IPEX. Decree No. 65/2016: Set at fifty percent the amount of the salary or pension to be paid as a thirteenth salary for the year 2016 to the officials and agents of the State in the exercise of their functions and to pensioners. Resolution No. 34/2016: Approves the policy of the cultural and creative industries and the strategy of its implementation. DECISIONS TAKEN BY THE COUNCIL OF MINISTERS - JANUARY Calendar of activities of the Council of Ministers in 2017; Table of indicators for disaster risk reduction; Decree that establishes mechanisms for the management of the State Budget for 2017 and assigns powers to the holders of the organs and institutions of the State to make budgetary changes; Resolution appointing Miguel José Matabel to the position of Chairman of the Board of Directors of the Railways of Mozambique (CFM); Resolution approving the special territorial planning plan for Part of the Zambezi Valley; Resolution ratifying the Doha amendment to the Kyoto Protocol on climate change adopted at the 18th Conference of the Parties held in 2012; Resolution ratifying the Paris agreement on climate change, signed on 12 December 2015 in the City of Paris, France; Resolution approving the agreement to host the offices of the technical center for disaster risk management, sustainability and urban resilience in Southern Africa (DIMSUR) in Mozambique; Resolution assigning and modifying place-names to the infrastructures and access roads of Matola City, Vila da Namaacha (Maputo Province), Cities of Xai-Xai, Chibuto, Chókwè and Vila de Madlakazi (Province of Gaza), City of Manica and Vilas Of Catandica and Sussundenga (Province of Manica) and Maputo City.

6 BDO IS ONE OF THE TOP 5 ACCOUNTING NETWORKS At year end on 30 September 2016, BDO's global network provides advisory services in 158 countries, with close to 67 thousand people working out of more than 1,401 offices worldwide. We have demanding client service standards that all our firms must meet and we trust our people to use their skills and experience to deliver the exceptional service global clients ex- 158 Coutries Offices Staff pect. AUDIT ADVISORY In addition to validating financial information of companies and institutions, we analyze not only the correct application of standards and legislation, but also the internal control system and continuity of operations. Our professional intervention in this area includes, in particular: Complete audit the financial statements; Review internal control; Limited review financial statements; Examination of prospective financial information; Specific audits (incentives, due diligence, accounting, research, statistics); Internal audit, management, information technology, taxation and others. ACCOUNTING BDO Advisory has qualified advisors to support solutions that generate added value for companies and other entities increasingly look for our services. The large experience of BDO allows companies to benefit from functional and practical solutions designed by our team of advisors with the use of advanced technological tools and always taking into account the particularities of each business. In this context, we provide the following services: Evaluation of companies; Feasibility studies; Investment and Financing; Restructuring of companies and organizations; Strategic plans and business plans; Information systems advisory, with particular emphasis to the implementation of integrated systems and developments; Advice on Human Resources; Specific training. BDO is the largest provider of accounting services in the country, with more than 40 technicians and hundreds of devoted customers. We present the ideal solution for the businessmen or institution wishing to focus on their core business leaving highly risky specialized administrative tasks to professionals and experts. The main services we provide are the following: Transition and implementation of IFRS; Accounting Service; Accounting Outsourcing; Payroll Services; Consolidation of accounts; Training. TAX BDO Tax monitors the compliance with the obligations of the companies, institutions and individuals, and shall review tax strategies with the aim of optimizing tax solutions and minimize tax risk. Our services include: Monitoring of compliance with tax obligations and charges; Mergers and Acquisitions; Process of insolvency; Full tax situations diagnosis; Tax planning and prevention; Studies of fiscal framework; Taxation of expatriates; Collection of tax incentives; Support expatriates; Support transfer of capital.

7 CONTACTS 25 de Setembro Avenue, 1230, 3th Floor Block 5 CP 4200 Maputo Republic of Mozambique Tel.: eferreira@bdo.co.mz This information has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The information cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact BDO Lda. to discuss these matters in the context of your particular circumstances. BDO Lda., its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on this information or for any decision based on it. BDO Lda., a Mozambican limited company, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms Legal authorization to work in Audit and Certification of Accounts by order of 27/10/99 Vice-Minister of Planning and Finance Copyright BDO Lda. All rights reserved.. Please consider the environment before printing this document