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.
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...
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.
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.
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:
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.
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