Mozambique Plans to Cut Value-Added Tax to 16% From 17% (1)

Mozambique President Filipe Nyusi announced fiscal measures to stimulate economic growth in a speech in the capital, Maputo, including a plan to reduce the VAT rate to 16% from 17%.

• Measures also include cutting the corporate tax rate for farming and urban transport operators to 10% from 32%
• The government will allocate 10% of revenue from extractive industry operations to the province where they are based for infrastructure and development projects
• The state will accelerate 10 strategic infrastructure projects worth more than $1 billion in multilateral investment, with emphasis on transport, financial inclusion and government digitization
• Mozambique plans to have ...