Madagascar cryptocurrency tax guide

What this guide covers

This guide summarizes Madagascar's unsettled crypto tax position for 2025. impots.mg wasn't directly fetched. This is educational information, not individualized tax advice.

Tax treatment of cryptocurrency

Sources disagree on whether Madagascar taxes crypto gains at all, with one claiming it's untaxed and another citing a specific 20% ordinary-income rate. Madagascar has no comprehensive crypto-specific statute; cryptocurrencies aren't legal tender, and the framework is described as unregulated rather than prohibited. The central bank's public communications are limited to a 5 October 2021 communiqué stating that virtual assets aren't issued or regulated by any monetary authority and don't constitute legal tender. One source cites Article 9 of Law 2016-004 on the BFM's statutes, which reserves the issuance of legal tender to the central bank, though the full provision wasn't independently confirmed. Décret n° 2024-1352, published in January 2025, sets AML/CFT rules extending to virtual asset service providers under SAMIFIN (the financial intelligence unit established under Law 2018-043) oversight, but creates no registration or licensing pathway. On tax, sources conflict: one says Madagascar doesn't tax cryptocurrency gains and has no specific crypto legislation, so general tax principles would apply (without specifying what that means in practice); another says gains are taxed as ordinary income under the general tax code, with corporate income tax at 20% and personal income tax up to 20%, and that the Direction Générale des Impôts has issued no crypto-specific guidance.

Common taxable events

• Per the ordinary-income reading: crypto gains potentially taxed as ordinary income at up to 20% (personal) — this guide doesn't treat this as settled, given the directly conflicting 'not taxed' claim.

Potentially non-taxable events

• Per a conflicting reading: crypto gains currently untaxed, per one tax-tracking source — this guide doesn't treat this as settled either.

Tax rates and thresholds

This guide doesn't assert a confident rate, given the direct conflict in sourcing. One source reports corporate income tax at 20% and personal income tax up to 20% as the general backdrop that would apply to crypto gains characterized as ordinary income.

Cost basis and calculation

Not independently confirmed in this research pass.

Reporting and compliance

• This guide doesn't identify a confirmed individual reporting obligation specific to crypto under current Malagasy tax law.
• Virtual asset service providers face AML/CFT rules under Décret n° 2024-1352, with SAMIFIN oversight, though no registration or licensing pathway exists.

Residency and cross-border issues

Not resolved in this research pass. One notable context point: Madagascar's central bank is piloting a CBDC (the eAriary), which launched in October 2025, and a political rupture in October 2025 reportedly suspended the legislative cycle, which may affect any further regulatory development.

Example

This guide omits a worked tax example, given the direct conflict in secondary sources over whether Madagascar taxes crypto gains at all.

Official resources

• Direction Générale des Impôts: https://www.impots.mg/
• Banky Foiben'i Madagasikara (BFM): https://www.banky-foibe.mg/

Limitations and review information

Tax year covered: 2025. Last verified: October 11, 2026. Known gap: impots.mg wasn't directly fetched; secondary sources directly conflict on whether crypto gains are taxed at all, and the October 2025 political rupture's effect on any pending regulatory development wasn't confirmed. This is educational information only, not individualized tax advice — confirm current specifics directly with the DGI or a qualified Malagasy tax professional.