BDO Mozambique July 2012 Newsletter - MCLI

NEWSLETTER
SEPTEMBER 2012

MONTHLY TAX OBLIGATIONS
DATE OBLIGATION DESCRIPTION LEGAL BASIS
10 SEP
2012
Social Security
Payment of employees Social security contribution from salaries of
August 2012.
Art.43 of
Ministerial
Order no.
45/90, of 9
May
20 SEP
2012
Stamp Tax
Payment of taxes related to bills of exchange and promissory notes
resulting from the use of credit in financial transactions and insurance
polices which fiscal obligations were incurred in August 2012.
Art.16, no.1
of Decree no.
6/2004
20 SEP
2012
IRPS (Personal
Income Tax)
Payment of withheld taxes from Personal Income Tax Code (includes
PAYE)
Art.65 CIRPS
20 SEP
2012
IRPC
(Company Income
Tax)
Payment of Corporate Tax
No.5, Art.67
CIRPC
20 SEP
2012
Specific Tax
on Oil Production
Payment of Oil production taxes for August 2012.
Art.10 of Decree
no.
4/2008
20 SEP
2012
Mining Production
Tax
Payment of mineral extraction taxes for August 2012.
Art.10 of Decree
no.
5/2008
Normal Regime
30 SEP
2012
VAT
Submission to relevant Tax Authority the periodic statement of August
2012 with respective payment. Taxpayers who did not perform
any taxable transaction are also required to submit periodic statement.
Isolated acts
Taxable persons who performed independently a single taxable
Art.25, point
c), no.1, Art.
32 of CIVA
Art.33 of
CIVA
transaction should submit the respective statement (Model E)

CORPORATE TAX
Companies with organized accounting will have to pay the third instalment of the Advancement of Company Income
Tax. Companies with different tax period of December 31, must pay the Advancement of Company Income Tax on
the 5th, 7th and 9th month of the tax calendar.
Note that the Advanced Payment is 80% of collection paid in the previous year divided into three equal instalments
rounded up (paragraph 2 of article 28. CIRPC of regulation).
In the case of last instalment should be noted that if the taxpayer check that the amount of the advance payment
already made is equal to or greater than the tax that is due based on taxable income for the year, can no longer
make new payment, but must remit to the tax authority a declaration of limitation payment due until the expiry of
the deadline for payment.
CODE OF CORPORATE INCOME TAX AND ITS REGULATION
We provide on our site www.bdo.co.mz, an updated version of Law number 32/2007 of December 31 - VAT Code,
as amended by Law 3/2012 of 23 January and its Regulation approved by Decree 7/2008 of 16 April, as amended
by Decree 4/2012 of 24 February.
DECISIONS TAKEN BY THE COUNCIL OF MINISTERS IN AUGUST
Approved:
• Balance of economic and social
plan in the first half of 2012.
• Decree authorizing the Minister
of Finance to obtain internal
amortizable loan called Treasury
Bonds-2012, until the total
amount of 3,150,112.40 million
MT.
• Decree establishing a Committee
for Africa Liberation Movements
(CPMLA) Heritage Preservation
Programme and approves its articles
of association.
• Balance of the Global Strategy
for Public Sector Reform -2001-
2011 and approach of public sector
reform following the end of
the implementation of the global
strategy of public sector reform
from 2001 to 2011.
• Decree authorizing the company
Manica Chinhamapare Investments,
SA, (SOMACHIL, SA) to
create the “Instituto Sperior”
with headquarters in Manica,
Manica province.
• Decree authorizing Prometra-
Agro Ltd, to create the “Instituto
Superior de Estudos de Desenvolvimento”
Local, referred to as
ISEDEL, at nation level, with
headquarters in the administrative
post of Maluana, district of
Manhiça, Maputo province.
• Resolutions authorizing the Company
Sunslots Mozambique, SA,
to operate games of chance, in
the cities of Matola and Tete,
respectively.
• Integrated Management Strategy
for Solid Waste.
BDO NEWS
BDO won the Global Outsourcing Award in category of “Outsourcing Service Provider of the Year”, organized by the
European Outsourcing Industry.
This award recognizes the strategic investment that BDO has focused on developing F&A services for the very biggest
and the very smallest clients across almost every country in Europe.

LEGISLATION PUBLISHED IN AUGUST
ASSEMBLY OF THE REPUBLIC
• Resolution no. 10/2012
Approves the Parliament Report and Annual Account for the financial year 2011.
COUNCIL OF MINISTERS
• Decree no. 30/2012
Defines the requirements for forest exploration under a simple license and under the terms, conditions and incentives
for the establishment of forest plantations and revokes sections 16, 18 and 20 of the Regulation of Forestry and
Wildlife Law, approved by Decree no. 12 / 2002 of June 6.
TOP 100 SME AWARD
The Top 100 SME Award of Mozambique is a joint initiative between the Ministry of Industry and Trade - IPEME and
Group Soico that has the support of SNV, BCI and BDO, which aims to publicly recognize good business practices,
establish a research instrument and inducer of policy measures, establish a mechanism to standardize the classification
of Micro, Small and Medium Enterprises, promote the development of Mozambican entrepreneurship, encourage
the inclusion of poor communities and/or individuals in companies value chain and distinguish the Top 100
Small and Medium size companies in Mozambique.
A unique initiative in Mozambique that aims to innovate and mark the national economic agenda through positive
communication that encourages the creation and development of small and medium size companies.
To apply for this event, Small and Medium Size Enterprises in Mozambique you must complete the entry form, attach
the required documents set forth in the Regulation and consult the website www.100melhorespme.co.mz in
order to confirm your participation.
IFRS NEWS
21AUG12
IFRS at a Glance (IAAG) has been compiled to assist in gaining a high level overview of International
Financial Reporting Standards (IFRSs), including International Accounting Standards and Interpretations.
The update includes all IFRSs in issue as at 30 June 2012. The update features minor amendments to
IFRS 1 First-time adoption of International Financial Reporting Standards and IFRS 7 Financial Instru-
09AUG12
The IFRS Formula Linkbase 2012 is now available for download from the IASB website. It is an updated
version of the formula prototype which was released in October 2011. The 2012 formulae are designed
to work with the IFRS Taxonomy 2012.
07AUG12
EFRAG and the Italian standard setter Organismo Italiano di Contabilita (OIC) have issued a questionnaire
on impairment requirements for goodwill. Respondents are invited to complete the questionnaire
by 30 September 2012.
EFRAG and OIC expect that the IASB will initiate its post-implementation review of IFRS 3 Business
Combinations in 2013.
07AUG12
The trustees of the IFRS Foundation, responsible for the governance and oversight of the International
Accounting Standards Board (IASB), published for public comment a drafting review of the IFRS Foundation
Constitution.
The review incorporates changes to the Constitution to reflect the separation of the role of Chairman
of the IASB and Chief Executive Officer of the IFRS Foundation. This change is in line with the conclusions
of the Monitoring Board Governance Review.

BDO IN MOÇAMBIQUE
• At BDO we believe that the success of our customers is our own success.
• BDO Mozambique was founded in 1999 already has a portfolio of more than 200
customers and more than 100 highly skilled consultants.
• BDO Mozambique is the Audit and Consulting company with higher growth in
Mozambique in recent years.
• BDO provides flexibility, expertise, direct contact with customer and personalized
services of a local firm, combining these features to a global network of
knowledge and experts.
• BDO is distinguished by its ability to offer the best of both worlds
HOW CAN WE HELP YOU?
Services with the quality that your company deserves in
Mozambique and the world.
• Audit: independence, competence and credibility to help
our customers thrive in both national and international
markets.
• Accounting: Outsourcing of accounting function and advice
of professionals with large experience
• Consulting: development of methodology and strategic
solutions for companies to obtain the best position in the
market.
• Tax : Tax support to companies and organizations.
AUDIT
In addition to validating financial information of companies
and institutions, we analyze not only the correct application
of standards and legislation, but also the internal control
system and continuity of operations.
Our professional intervention in this area includes, in particular:
• Complete audit the financial statements;
• Review internal control;
• Limited review financial statements;
• Examination of prospective financial information;
• Specific audits (incentives, due diligence, accounting,
research, statistics);
• Internal audit, management, information technology,
taxation and others.
ACCOUNTING
BDO is the largest provider of accounting services in the
country, with more than 30 technicians and dozens of devoted
customers.
We present the ideal solution for the businessmen or institution
wishing to focus on their core business leaving highly
risky specialized administrative tasks to professionals and
experts.
The main services we provide are the following:
• Transition and implementation of IFRS;
• Accounting Service;
• Accounting Outsourcing;
• Payroll Services;
• Consolidation of accounts;
• Training.
ADVISORY
BDO Advisory has qualified advisors to support solutions that
generate added value for companies and other entities increasingly
look for our services. The large experience of
BDO allows companies to benefit from functional and practical
solutions designed by our team of advisors with the use
of advanced technological tools and always taking into account
the particularities of each business.
In this context, we provide the following services:
• Evaluation of companies;
• Feasibility studies;
• Investment and Financing;
• Restructuring of companies and organizations;
• Strategic plans and business plans;
• Information systems advisory, with particular emphasis
to the implementation of integrated systems and developments;
• Advice on Human Resources;
• Specific training.
TAX
BDO Tax monitors the compliance with the obligations of
the companies, institutions and individuals, and shall review
tax strategies with the aim of optimizing tax solutions and
minimize tax risk.
Our services include:
• Monitoring of compliance with tax obligations and charges;
• Mergers and Acquisitions;
• Process of insolvency;
• Full tax situations diagnosis;
• Tax planning and prevention;
• Studies of fiscal framework;
• Taxation of expatriates;
• Collection of tax incentives;
• Support expatriates;
• Support transfer of capital.

CONTACTS
25 de Setembro Avenue, 1230,
3th Floor Block 5 CP 4200
Maputo
Republic of Mozambique
Tel.: +258 21 300720
Email: eferreira@bdo.co.mz
www.bdo.co.mz
This information has been carefully prepared, but it has been written in general terms and should be seen
as broad guidance only. The information cannot be relied upon to cover specific situations and you should
not act, or refrain from acting, upon the information contained therein without obtaining specific professional
advice. Please contact BDO Lda. to discuss these matters in the context of your particular circumstances.
BDO Lda., its partners, employees and agents do not accept or assume any liability or duty of care
for any loss arising from any action taken or not taken by anyone in reliance on this information or for any
decision based on it.
BDO Lda., a Mozambican limited company, is a member of BDO International Limited, a UK company limited
by guarantee, and forms part of the international BDO network of independent member firms.
BDO is the brand name for the BDO network and for each of the BDO Member Firms
Legal authorization to work in Audit and Certification of Accounts by order of 27/10/99 Vice-Minister of
Planning and Finance
Copyright © BDO Lda. All rights reserved.
. Please consider the environment before printing this document.