Invoicing and Tax regulation in Mauritania
Invoicing Regulation in Mauritania
In Mauritania, both printed and electronic invoices are recognized, though specific requirements may apply for each. Details that should be included in your invoices include company name, address and contact information, a unique identification number, accurate description of the goods or services provided, date of the invoice, and the amount of the tax, if applicable. It is recommended to verify specific requirements and regulations with the local tax authorities or a legal counsel in Mauritania.
Real-Time Reporting / Fiscalization in Mauritania
Mauritania has not yet implemented a real-time reporting or fiscalization system. Generally, businesses are required to report their revenues, expenses, and taxes on a regular basis, typically on a monthly or annual basis depending on the specific requirements. It's important the businesses maintain detailed records of their transactions to facilitate accurate reporting.
E-Invoicing in Mauritania
At present, the use of electronic invoicing or e-invoicing is not mandatory in Mauritania but is permitted and increasingly common for B2B, B2C and B2G transactions. It's recommended to maintain a system that generates, sends, and stores electronic invoices to increase efficiency and accuracy in business transactions.
VAT/GST/Tax Compliance in Mauritania
Value-added tax (VAT) is imposed on goods and services in Mauritania at a standard rate of 18%. It's important to note that some goods and services may be subject to differing rates or be exempt from VAT altogether. Businesses are required to register for VAT if their annual turnover exceeds a certain threshold. Furthermore, businesses must submit VAT returns and payments on a regular basis to ensure compliance with Mauritania's tax regulations. It's essential to consult with a local tax expert or the appropriate tax authority to ensure full tax compliance.