Equatorial Guinea | New General Tax Law for 2025

Equatorial Guinea | New General Tax Law for 2025

Equatorial Guinea has introduced General Tax Law No. 1/2024, officially published in the Official State Gazette (BOE) on 6 December 2024. While the law took effect upon publication, the tax authorities will enforce the new rules from 1 January 2025.

Key Payroll-Related Amendments:

  • Personal Income Tax is now referred to as the Tax on Salaries and Wages (ISS).
  • The law introduces new regulations regarding:
    • When an employee becomes subject to ISS
    • Which values and employees are exempt from ISS
    • The timing of the taxable event and enforceability of ISS
    • How employer-provided benefits in kind are taxed
    • Allowable tax deductions (notably, the 20% professional expenses tax deduction has been repealed)
    • New annual tax tables and a fixed rate for expatriate employees
    • A new approach to taxing exceptional remuneration

For full details, please refer to the attached document.

Important Notes:

  • Due to a lack of clarity in the legislation, we are awaiting further guidance from the Tax Authority on the exact calculation method for exceptional remuneration.
  • The amendments may introduce new statutory reporting requirements.

We will provide further updates as soon as more information becomes available.

 


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