Tax
From The Report: Cote d'Ivoire 2017
View in Online Reader

In conjunction with PwC, OBG explores the taxation system, examining Cote d’Ivoire’s investor-friendly environment. OBG talks to Edouard Messou, Senior Partner; and Dominique Taty, Tax Partner, PwC, on the value-added tax refund mechanism.

Articles from this Chapter

Analysis

Tax review: A breakdown of the main levies and fees
OBG
plus

All profits made by natural or legal persons while performing commercial, industrial or agricultural activities are subject to a tax rate of 25%. Professional profits generally, tasks and functions for which policyholders do not have a commercial capacity, and profits from all activities and sources that do not fall under any other revenue category are subject to a 25% tax. There is a contractual minimum tax on annual turnover, including all taxes paid by the aforementioned persons when their profits…

Analysis

Payment schedule: Investors should be aware of the timeline for taxes and fees
OBG
plus

The payment of taxes on wages, salaries, debt, withholding tax, value-added tax (VAT) and other taxes on turnover are due on either the 10th, 15th or 20th of each month for companies dependent on the Directorate of Large Enterprises or the Centre for Medium-sized Enterprises. The schedules are below. Bic Tax & Imf The deadlines for payment of income tax on industrial and commercial profits – known as BIC tax – is broken down into three payments, and minimum annual tax (IMF) is due in two…

Overview

Investment code: A breakdown of the relevant regulations for investors
OBG
plus

The 2012 Investment Law comprises two types of investment regime: the investment declaration regime and the investment licensing regime. The two systems operate as follows: • The investment declaration regime applies to companies that make investments that create activity, in any sector, except for construction of non-industrial infrastructure, commerce, and banking and financial services. • The investment licensing regime concern operations that create activity (implementation of a new project),…

Analysis

Firm takeovers: A guide for procedures regarding acquisitions
OBG
plus

Companies that take over firms in difficulty are temporarily exempt from taxes on income, under industrial and commercial profits. The Investment Law does not supersede this exemption. Conditions Relative to the legal forms of the takeover, it may consist of a total or partial acquisition of intangible business assets, a merger or acquisition of a line of business – which is necessarily the case when the entity taking over was especially created for that purpose – or of an acquisition of shares…

Viewpoint

Ensuring efficiency: Edouard Messou, Senior Partner; and Dominique Taty, Tax Partner; PwC, on the value-added tax (VAT) refund mechanism
OBG
plus

Viewpoint:Edouard Messou A department for VAT credit refunds was created back in 2006, fuelled by the 12% VAT collected by recipients from Customs and tax authorities, and deposited into an account at the Central Bank of West African States. The VAT credits are thus refunded, as funds get deposited into the account. Some corrections have been implemented to its methods, but it fully plays its role, given that companies are reimbursed within a reasonable time frame. To ensure its efficiency,…