Mozambique: Tax Cuts As Part of Economic Stimulus Package

Maputo — Mozambican President Filipe Nyusi on Tuesday announced a dramatic cut in profit tax (IRPC) as one of a range of measures intended to stimulate the economy.

Under Nyusi’s proposals, the basic rate of profit tax is cut from 32 to 10 per cent. At this announcement, the audience, consisting largely of businesspeople, burst into applause.

Nyui hoped that such tax incentives will increase investment in agriculture, aquaculture and urban transport.

He announced a cut in the basic rate of Value…