Mauritania's tax authority has set a maximum limit of 200 new ouguiyas on the tax applied to financial transfers, regardless of the transaction amount. The measure, effective by 1 September, aims to standardise costs for bank clients and ensure regulatory compliance.
Mauritania's General Tax Administration has directed all banks operating in the country to implement a new ceiling on the tax applied to financial transfers, capping the charge at 200 new ouguiyas per transaction, irrespective of the transfer amount. The policy is scheduled to take effect no later than 1 September, according to official statements.
Under the revised framework, a tax rate of 0.1% will be applied to the value of each transfer, but the total tax payable cannot exceed the 200 MRU limit. This move is intended to provide greater predictability and fairness for both individual and corporate clients making large-value transfers.
Implementation and Bank Readiness
During a meeting with bank representatives, Mokhtar Salem El-Mouna, Director General of Taxes, emphasised the need for banks to update their technical and administrative systems to ensure uniform application of the new tax ceiling. Bank officials confirmed their commitment to meeting the regulatory deadline and adapting their processes accordingly.
Regulatory Context and Next Steps
The introduction of a capped transfer tax is part of Mauritania's broader efforts to modernise its financial sector and improve transparency in banking operations. The General Tax Administration has indicated that monitoring and enforcement mechanisms will be in place to ensure compliance across the sector. This regulatory update follows other recent government measures aimed at clarifying administrative procedures, such as the clarification of criteria for public sector transfers.
Market participants will be watching how the new tax ceiling affects transaction volumes and whether it prompts further adjustments to Mauritania's financial regulatory framework in the coming months.
