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Agriculture

Cote d’Ivoire: Law exempting tax and royalty on cocoa exports approved

Thursday, 01 December 2016 08:22

(Ecofin Agency) - In Cote d’Ivoire the law exempting tax and royalty on cocoa exports for local actors of the cocoa sector was approved by the deputies of the commission for economic and financial affairs (CAEF).

The new rule which was adopted last Monday in Abidjan states that exoneration rate for parafiscal levies  will be fixed by a joint decision of the Ministers of Agriculture, Budget, Economy and Finance. To benefit from the measure, national operators must, according to the law, provide evidence that they acquire what they export for themselves and do not act as intermediate for foreign companies.  

It should also be highlighted that the rate for registration tax is 2.165% this year, against 3% for the 2014-2015 main cocoa season.

With taxes and royalties gone, Ivorians operating in the cocoa sector should be able to increase their cocoa exports revenues.

 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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