Madagascar Tax Tables 2024 - Tax Rates and Thresholds in Madagascar

This page contains the tax table information used for the calculation of tax and payroll deductions in Madagascar in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ MG, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Madagascar or would like to add to or suggest amendments to the information herein then please contact us.

Madagascar Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Madagascar are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Madagascar Tax Calculator 2024.

In Madagascar, social security deductions made by employees are generally not deductible when calculating taxable income. This means that the gross income of an employee is subject to income tax before social security contributions are deducted. Therefore, while these contributions are mandatory and serve to fund important social benefits, they do not reduce the taxable base of the employee's income for the purpose of calculating income tax. This approach aligns with Madagascar's efforts to generate sufficient revenue for public services and social programs, while ensuring that the social security system is adequately funded.

Madagascar Social Security and Payroll Deduction Rates in 2024

In Madagascar, the social security system is designed to provide protection and support to employees and their families in cases of old age, disability, illness, work-related injuries, and unemployment. Both employees and employers are required to contribute to this system, with deductions made directly from payroll. These contributions fund a range of benefits aimed at ensuring the well-being of the workforce and aiding in social welfare.

One of the primary components of social security in Madagascar is the pension scheme. Contributions to this scheme are designed to provide a retirement income to employees who have reached the age of retirement. This ensures financial support for older citizens, allowing them to maintain a decent standard of living after they have stopped working. The pension scheme also provides benefits in the case of disability, offering financial assistance to those who are unable to work due to a disability.

Health insurance is another critical element funded by social security contributions. This insurance covers a portion of the medical expenses for employees and their dependents, including hospitalization, maternity care, and treatment for illnesses and injuries. By sharing the cost of healthcare, the system helps to make medical services more accessible and affordable for the population.

Work-related injury insurance is also a significant part of the social security system, providing compensation and medical care to employees who suffer from injuries or illnesses as a direct result of their job. This not only helps to cover the costs associated with recovery but also ensures that employees do not suffer financially due to work-related health issues.

Family benefits are included within the scope of social security contributions, offering support for families with children. These benefits can include maternity and paternity leave payments, allowances for child care, and assistance for families in need, helping to ease the financial burden on parents and guardians.

Unemployment insurance is another aspect of the social security system, designed to provide temporary financial support to individuals who are actively seeking employment but are unable to find work. This benefit acts as a safety net during periods of unemployment, helping to stabilize income and support job seekers.

Madagascar’s social security system also includes contributions for social assistance programs, targeting the most vulnerable populations. These programs offer support in various forms, including food assistance, housing subsidies, and emergency relief in times of crisis, reflecting the government's commitment to reducing poverty and promoting social inclusion.

The comprehensive approach to social security and payroll deductions in Madagascar reflects an understanding of the diverse needs of the workforce and their families. By contributing to this system, employers and employees invest in a safety net that supports the well-being and financial stability of the entire community.

Madagascar VAT Rates in 2024

VAT rates for Madagascar are reviewed annually, you can use the VAT Calculator to calculate VAT due in Madagascar or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Madagascar

The following tax tables are supported by iCalculator™ MG as part of the suite of free tax tools we provide for Madagascar.