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10. INCENTIVES AND SPECIAL REGIMES

A Tax incentive is provided for new businesses or expansions of existing businesses in Guinea, subject to the below conditions:

  • The business activity, or expansion, contributes to the achievement of one or more of the priority objectives of Economic Development;
  • A least 20% of the total cost for small and medium-sized enterprises, and 33% for other companies proposed for approval, must be financed by  capital investment.

Tax incentives include a five to eight-year exemption from the tax on industrial or commercial profits, business license duty, property tax and import tax (depending on the location of the investment). Effective 1 January 2019, qualifying companies operating under the investment code may benefit from a total or partial relief from the minimum tax. Effective 1 January 2021, tax and customs duty exemptions are limited to those provided under law and exclude any exemptions granted under decrees or ministerial orders. Further, companies that are granted a tax exemption for an investment project are required to maintain separate accounts and records for the project.