About Country

The Union of the Comoros is a developing nation located in the Indian Ocean off the east coast of Africa. Comoros consists of three islands, Ngazidja (also known as Grand Comore), Moheli and Anjouan that cover about 900 square miles. A forth island Mayotte is claimed by Comoros but remains a territory of France. Moroni is the capital.

In 2014, Gross Domestic Product (GDP) amounted to over USD 1 billion at current market prices. Comoros depends largely on fishing and subsistence agriculture, which employs approximately 80 percent of the population and provides around 50 percent of GDP. Though much of the terrain is not suitable for agriculture, Comoros is the world’s leading producer of ylang-ylang (a perfume ingredient) and second leading producer of vanilla.

The Investment Division of the Ministry of Finance, Budget, Economy, Commerce, and Investments monitors and facilitates investment in Comoros. Inflation is relatively low, averaging 2.5 in 2014 Comoros imports a high proportion of its fossil energy requirements. Monetary policy remains circumscribed by Comoros’s membership in the Franc Zone and the related fixed exchange rate against the euro.

Comoros top income tax rate is 30 percent, and the top corporate tax rate is 50 percent. Other taxes include consumption tax, an insurance tax, and a vehicle tax. In 2015, the overall tax revenue as a percentage of GDP was 12.6 percent.

Source: Comoros Investment Promotion Agency 

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