Corporate Fiscal Year-Ends Across 50+ African Countries: A Complete Guide

Country

Corporate fiscal year-end

Algeria

The taxable period is the fiscal year, usually corresponding to the calendar year.

For periodic activity, the fiscal year could be different from the calendar year

Companies are required to file an annual tax return before 30 April of the following year.

Angola

The tax year runs from 1 January to 31 December.

Benin

In Benin, the fiscal year generally follows the calendar year, running from January 1st to December 31^st.

Botswana

Botswana’s fiscal year ends on 30 June.

A business may choose its own accounting year, which may finish on a date other than 30 June.

This accounting year is recognised for calculating the company’s taxable income.

Burkina Faso

New companies set up before 30 June are required to close their first accounting year on 31 December of the same year.

Those set up after that date may close their first year on 31 December of the following year.

Tax is then based on the profit made during that period.

Burundi

The fiscal year starts on July 1 and ends on June 30

Cabo Verde

As a general rule, the tax year follows the calendar year.

A different tax year may be used, with permission from the Ministry of Finance, for non-resident companies with a permanent establishment in Cabo Verde and in other situations that are properly justified on economic grounds.

Taxpayers must submit a tax return by 31 May of the year after the end of the tax year if the tax year matches the calendar year.

If the tax year differs from the calendar year, the return must be filed by the last day of the fifth month following the end of that tax year.

Cameroon

The tax year in Cameroon is the calendar year.

Central African Republic

The fiscal year in the Central African Republic ends on December 31.

Chad

Companies must, in principle, close their annual financial accounts on 31 December each year. If a company begins operating later in the year, it may choose to run for a minimum of 12 months or a maximum of 18 months before closing its accounts.

Corporate tax returns are due by 30 April at the latest, with the option to request an exceptional extension until 15 May.

Comoros

Comoros uses a January 1 to December 31 fiscal year.

Democratic Republic of the Congo

The country uses a January 1 to December 31 fiscal year.

Republic of the Congo

The taxable period is the calendar year.

Côte d’Ivoire

Companies are legally required to have a fiscal year ending on 31 December.

The deadline for filing tax returns is 30 June for companies that are subject to audit requirements, and 30 May for all other entities.

Djibouti

The country uses a January 1 to December 31 fiscal year.

Egypt

The tax year is the taxpayer’s financial year.

The corporation tax return is due within four months of the end of the financial year. Therefore, if a company’s financial year ends on 31 December, the tax return must be filed before the end of April in the following year.

Equatorial Guinea

The taxable period for corporation tax runs from 1 January to 31 December.

Corporation tax returns must be filed within the first six months of the year following the taxable fiscal year. However, for the 2024 corporation tax, the returns must be submitted by 30 April 2025.

Eritrea

The country uses a January 1 to December 31 fiscal year.

Eswatini

The tax year runs from 1 July to 30 June. Companies are required to have a 30 June year end unless another date is approved by the Commissioner of Taxes, and such approval is routinely granted.

Ethiopia

The tax period for a person or body is the accounting year and covers the twelve months ending on the date of the annual financial statements.

A person may change the tax period by obtaining written approval from the Ministry of Revenue.

The normal taxable period runs from 8 July to 7 July of the following year. However, a different tax period may be permitted, in which case the basis of computation will be adjusted accordingly.

Gabon

Companies are required by law to have a 31 December closing of any fiscal year.

Returns for the previous calendar year are to be filed before 30 April of each year.

Gambia

The country uses a January 1 to December 31 fiscal year.

Ghana

The tax year runs from 1 January to 31 December. Companies with financial periods that do not follow the calendar year are taxed on the financial period that ends during the calendar year.

Companies must submit a tax return no later than 4 months after the end of their financial year. They may apply for an extension of up to two months.

Guinea

The country uses a January 1 to December 31 fiscal year.

Guinea-Bissau

The country uses a January 1 to December 31 fiscal year.

Kenya

A company may choose its own financial year end, provided it covers a twelve-month period. Any change to this must be approved by the Commissioner of the KRA.

Lesotho

The fiscal year and tax year in Lesotho for both the government and individuals runs from April 1st to March 31^st.

Liberia

The country uses a January 1 to December 31 fiscal year.

Libya

The tax year is generally the calendar year, although assessments may be based on a company’s own year-end if prior permission is obtained from the Tax Department and the company consistently adheres to that date.

All corporate entities are required to file annually within four months of their year-end or within one month of their audit report, whichever comes first.

Madagascar

The financial year can cover any period of twelve months. There is no need to obtain prior authorisation to close the financial year on a date other than 31 December or 30 June.

Corporation tax returns must be filed by 15 May each year for companies with a financial year ending on 31 December, by 15 November each year for companies with a financial year ending on 30 June, and no later than the fifteenth day of the fourth month following the end of the financial year for all other year-ends.

Malawi

In Malawi, the government’s fiscal year runs from April 1st to March 31st, but individual companies can choose different accounting year-ends.

Mali

The country uses a January 1 to December 31 fiscal year.

Mauritania

The fiscal year is the calendar year, and tax is assessed annually on profits earned in the previous year.

Taxpayers are required to close their accounts each year on 31 December, except in cases of disposal or cessation of activities during the year.

New enterprises that begin operations during the year may close their first balance sheet at the end of the following year. They are required to prepare a provisional operating account as of 31 December of the year in which they started business, and the results of this account will be taxed immediately. Any tax paid on the provisional results will be credited against the tax due on the first completed balance sheet.

Mauritius

Companies are assessed for a year running from 1 July to 30 June based on their income for the preceding year ending 30 June.

If a company closes its accounts on a date other than 30 June, it may choose to use as its basis year the accounting year ending within the twelve-month period preceding the year of assessment.

Every company, whether a taxpayer or not, must file a return of its income based on the income year preceding the year of assessment. The return must be submitted within six months of the financial year-end.

Morocco

The taxable period corresponds to 12 months. The first taxable period can be less than one year but should never exceed it.

CIT returns must be filed within three months following the closing of the fiscal year.

Mozambique

The tax year is generally the calendar year. A different tax year is permitted for permanent establishments of non-resident entities, which may adopt the tax period of the non-resident company.

Namibia

In Namibia, the fiscal year for government budgeting and the personal tax year both end on 31 March.

For businesses, including companies and close corporations, the financial year is more flexible:

• Government fiscal year and personal tax year: 1 April to 31 March of the following year.
• Companies: Companies may choose their own financial year-end, which is then used for tax purposes. Their income tax return is due seven months after the end of their chosen financial year.

Niger

The country uses a January 1 to December 31 fiscal year.

Nigeria

The taxable period is the fiscal year, which runs from 1 January to 31 December.

Rwanda

The normal taxable period is between January and December. However, a different tax period can be allowed on approval by the Minister of Finance.

Sao Tome and Principe

The country uses a January 1 to December 31 fiscal year.

Senegal

The tax year in Senegal is the calendar year.

Seychelles

The country uses a January 1 to December 31 fiscal year.

Sierra Leone

The country uses a January 1 to December 31 fiscal year.

Somalia

The country uses a January 1 to December 31 fiscal year.

South Africa

The corporate tax year is the same as the company’s financial year. It may be changed upon application showing reasonable cause.

South Sudan

In South Sudan, the government’s fiscal year runs from 1 July to 30 June. In contrast, the central bank, the Bank of South Sudan (BoSS), follows the Gregorian calendar, with its fiscal year ending on 31 December.

Sudan

The country uses a January 1 to December 31 fiscal year.

Tanzania

Although the tax year is the calendar year, an entity may apply to use its own accounting period instead.

Togo

The country uses a January 1 to December 31 fiscal year.

Tunisia

Under Tunisian law, both the accounting year and the tax year follow the calendar year. However, an exception is possible if prior authorisation is obtained from the Ministry of Finance.

Uganda

A standard period of twelve months is referred to as a year of income, running from 1 July to 30 June. Upon application, a taxpayer may be permitted to use a substituted year of income, which is a twelve-month period different from the normal year of income.

Zambia

CIT is determined by reference to a charge year, being the period of 12 months ending on 31 December.

Zimbabwe

The country uses a January 1 to December 31 fiscal year.