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Introduction to Guinea Customs Tariffs

Abstract:

If you want to ship goods to Guinea, it is essential to understand the import and export tariffs of Guinea Customs. The following is a summary of Guinea's customs tariffs.

Guinea implements a territorial tax system, and the tax system is composed of the following laws: the General Tax Code (le Code générale), the General Tariff Code (le Code douanier), the Finance Act (la Loi des finances), and the National Budget Act (la Loi du budget).

Main taxes and tax rates

[Enterprises operating in Guinea need to pay taxes]

(1) Corporate income tax: 35%; if the enterprise is loss-making, it will pay a minimum lump sum tax of 15 million to 60 million Guinea francs based on the size of the enterprise.

(2) Value-added tax: 18%;

(3) Wage tax: 10-30%;

(4) Apprentice tax: 3% (annual salary of 300,000 francs or more);

(5) Protection tax: In order to encourage and protect domestic industries, a protection tax of 10%-15% is imposed on certain imported similar goods. Imported goods subject to protection tax include: flour, fruit juice, mineral water, sugary soda, paint and varnish, ordinary soap, candles, plastic bags, tableware and other plastic utensils, chairs and plastic furniture;

(6) Consumption tax: tax rate 5%-45%. The objects of taxation include: alcohol, petroleum products, perfume, cosmetics, jewelry, gold and silver products, and tourist vehicles used for more than 5 years.

[Preferential tariff]

According to the unified free trade rules, Guinea is exempt from import tariffs on products from all ECOWAS member countries. The relevant rules of origin were formulated by ECOWAS and came into effect in January 2003. The rules are consistent with the rules of origin of the West African Economic and Monetary Union. The tariff losses incurred are compensated by the ECOWAS unified reserve fund.