Accounting and accounting rules in Mozambique
Accounting Rules
- Tax Year
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The tax year is the calendar year. A different tax period can be allowed only when a company is more than 50% owned by an entity that has adopted a different tax period.
- Accounting Standards
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IFRS standards must be adopted by all listed companies, public companies, companies with a majority state shareholding, banks and other medium and large companies.
- Accounting Regulation Bodies
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Mozambique Tax Authority
- Accounting Reports
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The annual accounting report has to include a balance sheet, a profit and loss account and a cash flow statement.
- Publication Requirements
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All legal entities must file annual returns by the 31st May following the end of the tax year.
- Professional Accountancy Bodies
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The Mozambique Association of Accountants and Auditors (OCAM)
- Certification and Auditing
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All public companies are required by law to be audited. Regarding private companies, a statutory auditing is mandatory for PLCs and branch offices, while it is not for LLCs and representative offices.
- Accounting News
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Latest Update: November 2024