iCalculator™ GW: Guinea-Bissau Tax Calculators
Welcome to iCalculator™ GW, your comprehensive suite of free tax calculators for Guinea-Bissau. iCalculator™ has provided free tax calculators for Guinea-Bissau since 2019. Since those early days we have extended our resources for Guinea-Bissau to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Guinea-Bissau Tax Calculator and salary calculators within our Guinea-Bissau tax section are based on the latest tax rates published by the Tax Administration in Guinea-Bissau. In this dedicated Tax Portal for Guinea-Bissau you can access:
Guinea-Bissau Tax Calculator 2024/25
The Guinea-Bissau Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Guinea-Bissau. This includes calculations for
- Employees in Guinea-Bissau to calculate their annual salary after tax.
- Employers to calculate their cost of employment for their employees in Guinea-Bissau.
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Guinea-Bissau is situated on the West African coast, bordered by Senegal to the north and Guinea to the south and east. To the west, it has an extensive Atlantic Ocean coastline, featuring a number of archipelagos that contribute to its unique geographical makeup. The country’s location has historically made it a part of important trading routes and has influenced its diverse cultural heritage.
The nation’s cultural landscape is a tapestry of various ethnic groups, including the Balanta, Fula, Manjaco, Mandinka, and Papel peoples, each with their own languages, traditions, and social structures. Music and dance play a vital role in Guinea-Bissau’s cultural expressions, with Gumbe being a popular music genre that symbolizes the country’s rich musical heritage. Traditional festivities and ceremonies, often tied to the agricultural calendar, are central to the social life of its communities.
Economically, Guinea-Bissau is one of the world’s least developed countries, with an economy heavily reliant on agriculture and fishing. Cashew nuts are the primary cash crop and the main source of export revenue. Despite the potential for diversification, the economy faces significant challenges due to political instability, lack of infrastructure, and external debt. The country also has untapped natural resources, including minerals and offshore oil reserves, which could transform its economic landscape if properly developed.
In addition to agriculture, Guinea-Bissau’s economy includes small-scale trading and a growing interest in tourism, capitalizing on its natural beauty and cultural heritage. The Bijagós Archipelago, with its UNESCO Biosphere Reserve, is of particular interest for eco-tourism, offering unique wildlife and pristine environments. However, sustainable development and investment are needed to harness these economic opportunities fully.
Overview of Guinea-Bissau
The taxation system in Guinea-Bissau encompasses a variety of taxes levied on individuals, businesses, and goods and services, aimed at generating revenue for national development and public services. The system includes income tax, which is imposed on individuals based on their earnings, and corporate tax, which targets the profits of businesses operating within the country. Additionally, Guinea-Bissau has a value-added tax (VAT) applied to a wide range of goods and services, contributing significantly to the state revenue.
Customs duties on imported goods also constitute a vital part of Guinea-Bissau's tax regime, affecting the cost and availability of foreign products in the local market. Other taxes may include property taxes, stamp duties, and specific levies on natural resources and activities with environmental impacts. The complexity of the tax system, combined with efforts to improve tax collection and compliance, reflects the government's focus on enhancing fiscal stability and supporting economic growth.
For individuals and businesses looking to understand their tax obligations in Guinea-Bissau or for those interested in investment opportunities, navigating the tax landscape is crucial. Our resource hub offers a comprehensive collection of the latest tax tools and tables, designed to provide valuable insights and facilitate compliance with Guinea-Bissau’s tax regulations. Visit our tax tools and tables section for detailed information on taxation in Guinea-Bissau, ensuring informed decision-making in financial and business planning.