Page 29 - Nexia SAB&T Africa Overview 2025

Lesotho (GMT +2)

General:
▪ Capital City: Maseru
▪ Official Language: Sesotho and English
▪ Currency: Loti (LSL)
▪ Main Exports: Clothing, diamonds, vehicles, water, wool, tobacco
▪ Surface Area: 30.4 sq. km (thousands)
▪ Population: 2,3 million (2025,est)
Key Economic Indicators:
▪ GDP: $2,4 billion (2023) / GDP Growth Rate: 2.4% (2024)
▪ CPI Inflation Rate (annual): 4.3% (2025)
▪ Sovereign Credit Ratings: Moody’s: Not rated, S&P: Not rated,
Fitch: B (High Credit Risk)
▪ Indicator of Economic Freedom Score: 54.1/100 (2025): Mostly Unfree
Exchange Controls:
▪ Exist, part of the Common Monetary Area (CMA)
Basis of Taxation: (Tax Year End: 31 March)
▪ Residents: Lesotho-source/deemed source income
▪ Non-residents: Lesotho-source income
Tax Rates:
▪ Individuals: Progressive rates between 20% and 30%
▪ Companies: 25%
▪ Inheritance and Donations Taxes: Varying rates apply
▪ VAT: 15%
▪ Withholding Tax: Varying rates apply to non-residents
▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
▪ Double Taxation Agreements: Mauritius, South Africa and the United Kingdom
Useful links:
▪ Central Bank of Lesotho http://www.centralbank.org.ls
▪ Lesotho Revenue Authority http://www.lra.org.ls
▪ Lesotho Nat. Development Corp. http://www.lndc.org.ls
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