Invoicing and Tax regulation in Mali

Invoicing Regulation in Mali

In Mali, businesses are required to issue invoices for the sale of goods or provision of services. Invoices must be issued in two copies, one for the seller and one for the buyer. They should contain certain mandatory details including the names of the parties involved, detailed description of goods or services, and the taxable amount.

Real-time Reporting / Fiscalization in Mali

At present, real-time reporting or fiscalization is not mandatory in Mali. Businesses are not required to update the taxation authorities in real-time about their sales, purchases or stock changes. However, they may choose to follow this practice for their internal efficiency and transparency.

E-Invoicing in Mali

E-invoicing is not yet compulsory in Mali. Businesses are allowed to issue electronic invoices, but these need to be backed by physical documents. It's expected the digital transformation will lead to increasing adoption of e-invoicing, which can bring numerous benefits such as reducing paper use and speeding up administrative processes.

VAT/GST/Tax Compliance in Mali

Value Added Tax (VAT) compliance is mandatory in Mali. The standard VAT rate is 18%. Businesses are required to register for VAT if their annual turnover exceeds XOF 30 million. They must file VAT returns and make any necessary payment on a monthly basis. Importantly, businesses dealing with government institutions (B2G) as well as those transacting with other businesses (B2B) and consumers (B2C) are all subject to these VAT requirements.

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