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11 February 2020 Equatorial Guinea publishes Financial Law 2020 Equatorial Guinea’s Financial Law 2020 (FL 2020) was published on 12 December 2019 through Law n°5/2019. FL 2020 sets out the main measures adopted by the State to promote development objectives as well as integrate the reforms initiated by mutual agreement with the International Monetary Fund. From a fiscal viewpoint, FL 2020 reflects the consolidation of measures adopted in the previous FL 2019, since these measures are reaffirmed or clarified and a special regime for infringements/sanctions has been created. FL 2020 also broadens the local tax base.
In addition, an annual registration requirement is established with taxation at a rate of 1% on the value of the vehicle for the first five years and 2% from the sixth year. FFA Ernst & Young, Malabo
Ernst & Young Advisory Services (Pty) Ltd., Africa ITTS Leader, Johannesburg
Ernst & Young LLP (United Kingdom), Pan African Tax Desk, London
Ernst & Young LLP (United States), Pan African Tax Desk, New York
Document ID: 2020-5209 |