TL

2016 KPMG Africa’s Latest Indirect Tax Guide and Incentive Survey

2016 Africa Indirect Tax Country Guide

Seven of the world’s fastest growing economies are in Africa. This makes Africa a key strategic growth imperative for most global corporations who would, while conducting their business operations, ultimately create a Value Added/Goods and Sales Tax (VAT/ GST) footprint.

Realizing the potential for indirect taxes to contribute a higher proportion of the total tax revenue, African governments are now placing or seeking to place high reliance on such taxes to meet growing revenue needs.

Finance and Tax Directors of corporations operating across Africa should therefore ensure that the people, systems and processes in their organization can predict and respond to VAT/GST changes that will impact on their operations and internal systems as a result of changes in law, policy and practice.

Africa Incentive Survey 2016

The purpose of the Africa Incentive Survey is to understand the landscape of incentives offered by African countries, both to local and foreign investors. Whilst in an ideal world, information relating to all countries in Africa would have been included in a survey, for a variety of reasons (including time limitations), this survey contains information across 28 countries in Africa, which represent 81% of Africa’s USD 2.4 trillion GDP and which are home to three-quarters of Africa’s 1.2 billion population.

More than a third of the 28 countries surveyed have incentives relating to manufacturing. It appears that African countries are reforming the incentive policies on manufacturing to attract manufacturing Foreign Direct Investments into their countries.

TFTA

African Economic Blocs

Nigeria, South Africa and Morocco are notably the only countries in Africa that offer cash grants in addition to tax incentives, all of which require government approval.

The countries participating in this survey have achieved an average growth in GDP of 9% between 2012 and 2014, while their population have grown by 43.2 million to just under 870 million people during this period. What this means is that the sheer size of the population in Africa (approximately 18% of the world’s population) and the opportunities it affords to businesses, cannot be ignored.

Please click on the links below for free download of the documents:

2016 KPMG Africa Indirect Tax Country Guide

2016 KPMG Africa Incentive Survey

About Femi Oke

Relentless passion for creativity and digital acumen to help a professional services firm thrive in the digital space. Femi is an individual with a rich experience on regional African knowledge, its diverse business culture and he understands the continent’s economic drive. He thrives on selfless service and lasting mutually beneficial relationships with colleagues and especially clients encountered in the course of his duties. He is creative, practical and self-motivated with business judgement in corporate, brand and strategic communications, social, digital & traditional media and executive profiling. Roles in the firm include New Media, Digital Communication, Corporate Communication, executive profiling and Brand Management execution. Working on the multi-million dollar Africa high growth market project stands out for femi; besides this, managing all KPMG’s digital communication for the World Economic Forum on Africa is another project that gives him great delight. Femi holds a Masters Degree in Global Marketing from the University of Liverpool.

, , , , , , , , , ,

No comments yet.

Leave a Reply

LEGAL PRIVACY POLICY
Twitter Linkedin Facebook YouTube RSS