Updating tax knowledge

A one-year partnership has been signed between the General Tax Directorate (DGI) and the Madagascar Vocational Training Fund (FMFP). This agreement aims to enhance the tax skills of Malagasy companies.

The aim of this cooperation is to offer training in tax matters and obligations to companies belonging to the FMFP. During the signing of the agreement, the Chairman of the FMFP Board of Directors stated, “This initiative will offer businesses the opportunity to update their tax knowledge, adopt best practices, and take advantage of the tax benefits to which they are entitled.”

Since its foundation in 2019, “the FMFP has trained over 100,000 individuals, including job seekers and vulnerable workers”. Over five years, it has allocated 9 million USD for training, with contributions from over 19,000 companies across Madagascar. The FMFP uses funds from companies’ social security contributions to finance vocational training for employees.

According to DGI data, in 2023, there were 1.75 million taxpayers, including 800 large companies, each generating over 900,000 USD in annual sales. These large companies contribute around 85% of tax revenues, underscoring the importance of effective tax management for the country’s economy.