Helping Foreigners Do Business in Madagascar
Offshore Tax with HTJ.tax · htjtax
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Show Notes
Doing business in Madagascar as a foreigner comes with unique financial, tax, and compliance challenges. In this episode, we explore the critical role accountants play in guiding international companies—ensuring compliance, maintaining transparency, and supporting strategic growth.
What You’ll Learn in This Episode:
📊 Financial Reporting
- How accountants prepare statements under Madagascar’s PCG 2005 while also aligning with IFRS for international reporting.
- Why many foreign subsidiaries maintain dual financial reports for local and global requirements.
💰 Tax & Compliance
- Key tax responsibilities: corporate income tax (20%), synthetic tax for small businesses, payroll and withholding taxes.
- Importance of deadlines (e.g., annual tax filing by May 15).
- Proper expense documentation and deductions.
🔍 Audit & Oversight
- How accountants support audit readiness and establish internal controls.
- Efforts by OECFM (national accounting body) to align with global standards and implement quality assurance frameworks.
📈 Budgeting & Analysis
- Accountants’ role in budgeting, forecasting, and financial planning to aid strategic decision-making.
🗂 Record-Keeping
- The importance of meticulous financial records, stock cards, and VAT compliance.
- Risks and fines for poor documentation.
Why Listen:
If you’re a foreign investor, entrepreneur, or business owner in Madagascar, this episode demystifies the financial and regulatory landscape—and highlights how the right accounting support is key to building a sustainable operation.